Category: Europe

MIL-OSI Russia: China pushes ahead with plan to help people with disabilities find employment

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

BEIJING, July 1 (Xinhua) — China’s State Council Office recently released a plan to promote employment for people with disabilities. The document, scheduled for three years (2025-2027), aims to increase their employment opportunities and expand the range of public services provided to them.

The plan encourages government agencies, budget institutions and businesses to play a leading role in hiring people with disabilities. The plan also encourages self-employment, flexible working hours and assistance in finding employment. Targeted support will be provided to specific groups of people, such as people with disabilities studying at higher education or living in rural areas, as well as the blind.

According to the action plan, a single digital platform will be developed that will integrate employment data for persons with disabilities across the country. In addition, efforts will be made to improve the employment service system.

Disability service organisations and related service providers will be urged to play a more active role in identifying suitable employment opportunities for persons with disabilities and assisting them to increase their own income.

There are more than 85 million people with disabilities in China, accounting for about 6 percent of the country’s total population. From 2022 to 2024, China implemented a plan to increase employment and expand business opportunities for this social group. -0-

MIL OSI Russia News –

July 1, 2025
MIL-OSI Russia: /China Spotlight/ Toys for the Elderly Boost China’s ‘Silver’ Economy

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

HANGZHOU, July 1 (Xinhua) — In a playroom at a nursing home in China, several sprightly seniors gathered to play table hockey, competing in wits and skill, savoring every moment.

Once considered a child’s play, these educational games are quickly becoming the latest craze among seniors.

As China’s population ages at an accelerated rate, the once-overlooked consumer niche of games and toys for the elderly is emerging as a new pillar of the booming silver economy.

Guan Weijian, a toy merchant in the eastern Chinese city of Yiwu, known as the “supermarket of the world,” quickly saw the wind blowing when he noticed such changes.

Over the past year, his online store has seen a boom in demand for fitness gear and cognitive-development games and toys among older shoppers. Consumers aged 50 and up now make up 30 percent of his user base.

“Our two best-selling toys are in the fitness and puzzle categories. They are low-impact yet fun, perfect for seniors to exercise or while away the time,” says Guan Weijian.

“In fact, there are similarities between toys for the elderly and children’s toys in terms of developing reflexes, grip strength and coordination. In fact, some children’s toys can be easily adapted for the elderly with just a few simple changes,” Guan Weijian added.

Realizing the potential of the senior toys sector as a promising niche, he decided to take advantage of the opportunity. In just three months after launching more than 10 products designed specifically for senior users, sales at his store far exceeded expectations.

Searches for “toys for the elderly” on Taobao, one of China’s leading e-commerce platforms, grew 124 percent year-on-year, and transaction volume increased by more than 70 percent. Consumers aged 55 and above now make up an increasing proportion of shoppers, and their purchase frequency is increasing.

As the market expands, more and more toy manufacturers across China are shifting their focus to meet the needs of older consumers.

According to Cheng Xin of Taobao’s toys and collectibles section, there are many new shops selling toys for the elderly popping up on the platform, some of which are newly established and many of which are converted from former children’s toy stores.

“Toys are no longer exclusive to kids, nor are they pop culture icons. They are a lifelong hobby that can be enjoyed by a wide range of consumers of all ages,” Cheng Xin said, adding that Taobao plans to launch a special toy segment for seniors, providing them with customized operational support.

The booming market of toys for the elderly has not only created new growth points for consumption, but also contributed to a profound transformation of the traditional production chain.

A particularly striking example is Yunhe County in Zhejiang Province, East China, widely known as the “birthplace of China’s wooden toys.”

Based on years of industrial experience, Yunhe County has now deeply integrated the wooden toy industry with the elderly care industry, forming an innovative industrial chain focusing on intellectual, health and entertainment products.

The key to this transformation lies in the shift from “fun” to “functionality.” To date, local manufacturers have developed more than 200 wooden toys designed to improve hand-foot coordination and slow down memory loss in older adults.

According to Yin Qian, president of Zhejiang Mimi Zhikang Technology Co., the company has developed more than 100 wooden puzzle toys that are both entertaining and mentally stimulating.

To enhance the cognitive and rehabilitation properties of its products, the company collaborated with the Health Science Center of Xi’an Jiaotong University and the Alzheimer’s Disease Prevention Group located in Shaoxing, Zhejiang Province.

To date, the company has received more than 30 patents and supplies products to more than 500 senior care facilities across the country.

Meanwhile, Yunhe is also targeting international markets. In recent years, the county has expanded the export of its wooden toys to senior schools, nursing homes and community centers overseas.

“In 2024, our products were successfully exported to Germany, Japan and other markets, where they were warmly received by elderly users,” Yin Qian said.

In the first quarter of this year, sales of wooden toys aimed at the elderly rose 50 percent year-on-year.

China’s elderly population is projected to grow by more than 10 million a year over the next decade, according to the Ministry of Civil Affairs. The silver economy’s share of China’s GDP is expected to rise to 9 percent by 2035, from 6 percent today.

Data from iiMedia Research shows that China’s elderly care market will reach 12 trillion yuan (about $1.68 trillion) in 2023, up 16.5 percent year-on-year. The country’s silver economy is projected to reach about 30 trillion yuan by 2035, accounting for about 10 percent of GDP.

Innovations in niche segments are opening up new opportunities in the silver economy, said Zhang Jinsong, secretary general of the Committee on Education for the Elderly of the Chinese Gerontological Society.

The “silver” economy is poised to move beyond basic needs to consumption based on quality and pleasure, which will open up enormous potential,” he added. -0-

MIL OSI Russia News –

July 1, 2025
MIL-OSI Russia: Exclusive: China-Kyrgyzstan-Uzbekistan railway project opens new prospects for development of transport and logistics in the region — Uzbek expert

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

Tashkent, July 1 (Xinhua) — The China-Kyrgyzstan-Uzbekistan railway project is not just a large-scale infrastructure initiative, but a key strategic corridor that will help strengthen regional connectivity and economic transformation in Central Asia, Narbuta Babakhalov, an adviser to the chairman of the board of Uzbekistan Railways and a doctor of economic sciences, said in an exclusive interview with Xinhua.

“The project attracts increased attention from Uzbekistan, as it connects the East and the West, opening up new prospects for the development of transport and logistics in the region,” the expert noted. According to him, the joint implementation of this project by China, Kyrgyzstan and Uzbekistan clearly demonstrates the high level of political trust and the spirit of pragmatic partnership.

N. Babahalov emphasized the strategic importance of the route for Uzbekistan. The railway will significantly reduce the time of cargo delivery to South and Southeast Asia, reduce logistics costs and overcome the limitations of current transport routes. “This project strengthens our country’s position as an important transport hub in Central Asia and supports the implementation of the national strategy “Openness to the East,” he said.

The expert also noted that the China-Kyrgyzstan-Uzbekistan railway is becoming part of the conjugation of the Belt and Road Initiative with the sustainable development programs of the countries of the region. “We see how this project contributes to political coordination, expansion of cross-border cooperation and deepening of regional integration,” the expert emphasized.

He paid special attention to China’s contribution to the development of the project. “The Chinese side provides advanced technologies and equipment, demonstrating respect for the interests of Uzbekistan and actively involving local resources and specialists. This contributes to the creation of jobs, the transfer of knowledge and the formation of production chains in the region,” he said.

“Uzbekistan is ready to work with China and other partners to facilitate the successful implementation of the project, which has impressive potential that can bring real benefits to the peoples of the region,” N. Babakhalov concluded. –0–

MIL OSI Russia News –

July 1, 2025
MIL-OSI Russia: I. Musk threatens to remove congressmen who support D. Trump’s “One, Big, Beautiful” bill

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

WASHINGTON, July 1 (Xinhua) — U.S. billionaire Elon Musk on Monday again lashed out at U.S. President Donald Trump’s “One Big Beautiful” bill, threatening that lawmakers who support it risk losing their primaries next year.

“Every member of Congress who advocated for cutting government spending and then immediately voted for the largest increase in debt in history should hang their head in shame!” he wrote on his social network X.

“And they will lose the primaries next year if it is the last thing I do on this earth,” he said.

In another post, Musk said he would support Republican Congressman Thomas Massie of Kentucky, whom Trump criticized for voting against the bill in the House of Representatives and promised to campaign “very hard” against him in the Democratic primary, promising that a “great American patriot” would run against him.

Musk has been attacking Trump’s bill since he stepped down as head of the Office of Government Effectiveness in May, warning that it would raise the debt ceiling by $5 trillion, “destroy millions of American jobs, and cause massive strategic damage to our country.”

The bill could also directly impact Musk’s electric car company Tesla, as it eliminates tax credits on electric vehicles — up to $4,000 for a used car and up to $7,500 for a new one. J.P. Morgan Chase & Co. estimates that this would hit Tesla’s profits by $1.2 billion.

On Saturday, E. Musk broke a brief silence on the controversial spending bill, calling it “completely insane and destructive” as the package moves through the Senate. –0–

MIL OSI Russia News –

July 1, 2025
MIL-OSI United Nations: IOM and Bolt Join Forces to Support Migrant Workers in the Mobility and Delivery Sectors

Source: International Organization for Migration (IOM)

Geneva/Valletta, 1 July 2025 – The International Organization for Migration (IOM) and Bolt, a leading European platform for ride-hailing and food delivery services, have signed a global agreement aimed at providing integration support for migrants working in the mobility and delivery sectors. The partnership, Bridging the Gap – Integrating Migrants, will start with a pilot project in Malta that will serve as a scalable model for other countries.

“Migration is a reality that shapes our economies and our lives,” said Catalina Devandas, IOM Senior Director of Partnerships. “It is both a resource and an opportunity for people and economies alike. This partnership with Bolt shows what can happen when the private sector steps up to create fair, safe, and dignified migration pathways that meet real market needs and protect workers’ rights.”

With operations in over 600 cities across more than 50 countries, including in Europe, Africa, Southeast Asia and the Americas, Bolt’s broad geographic footprint strengthens the potential of the partnership to create lasting impact across diverse labour markets.

The project aims to empower migrant workers to better integrate into the local economy by working closely with private sector actors, developing tools and training for fleet employers, and providing targeted support. The partnership also seeks to foster social and labour market cohesion by ensuring migrant workers are fairly treated and supported by fleet partners.

“The success of several economic sectors increasingly relies on a diverse workforce,” said Eirini Zafeiratou, Vice President of Policy and Regulatory Affairs at Bolt. “Bolt’s platform enables earning opportunities for many individuals. With the support of IOM, we will make further efforts to foster better integration of migrant workers in the countries where we operate.”

In Malta, the pilot will offer concrete assistance to employers and workers alike, from developing tools and training that promote fair working conditions to providing practical support and integration pathways tailored to the ride-hailing and food delivery sector.

The project will also engage with a broad range of stakeholders, including public authorities, to ensure that it aligns with national labour market needs, policies, and priorities. In parallel, it will generate evidence to inform future policies on labour mobility at both the national and international levels.

By bringing together IOM’s global migration expertise and Bolt’s operational reach, the partnership aims to create a more responsible model for labour mobility – one that addresses market needs while protecting the rights, safety, and dignity of migrant workers.

Bolt is supporting the project through the Bolt Urban Fund, a social impact programme designed to enhance the social and economic impact of shared mobility and delivery services worldwide.

For more information, please visit IOM’s Media Centre

Or contact Bolt Sugandha Bhandari, Regional PR Manager, at sugandha.bhandari@bolt.eu.

MIL OSI United Nations News –

July 1, 2025
MIL-OSI Europe: ECB Consumer Expectations Survey results – May 2024
Source: European Central Bank

1 July 2025

Compared with April 2025:
- median consumer perceptions of inflation over the previous 12 months remained unchanged, while median expectations for inflation one and three years ahead decreased, and median inflation expectations for five years ahead remained unchanged;
- expectations for nominal income growth over the next 12 months increased, while expectations for spending growth over the next 12 months decreased;
- expectations for economic growth over the next 12 months became less negative, while the expected unemployment rate in 12 months’ time decreased;
- expectations for growth in the price of homes over the next 12 months remained unchanged, while expectations for mortgage interest rates 12 months ahead declined.
Inflation

In May, the median rate of perceived inflation over the previous 12 months remained unchanged at 3.1% for the fourth consecutive month. This was its lowest level since September 2021. Median expectations for inflation over the next 12 months decreased by 0.3 percentage points to 2.8%. Expectations for three years ahead also decreased, by 0.1 percentage points, to 2.4% while expectations for inflation five years ahead were unchanged at 2.1% for the sixth consecutive month. Uncertainty about inflation expectations over the next 12 months decreased in May, reversing the increase observed in April. While the broad evolution of inflation perceptions and expectations remained relatively closely aligned across income groups, over the previous year and a half inflation perceptions and short-horizon expectations for lower income quintiles were, on average, slightly above those for higher income quintiles. Younger respondents (aged 18-34) continued to report lower inflation perceptions and expectations than older respondents (aged 35-54 and 55-70), albeit to a lesser degree than in previous years.

Inflation results

Income and consumption

Consumers’ nominal income growth expectations over the next 12 months increased to 1.0%, from 0.9% in April. This increase was observed across all income groups. Perceived nominal spending growth over the previous 12 months increased to 5.0%, from 4.9% in April. Conversely, expected nominal spending growth over the next 12 months decreased to 3.5% in May, from 3.7% in April. This decrease was prevalent across all income quintiles, except for the lowest income group.

Income and consumption results

Economic growth and labour market

Economic growth expectations for the next 12 months became less negative, standing at -1.1% in May compared with -1.9% in April. Expectations for the unemployment rate 12 months ahead decreased to 10.4%, from 10.5% in April. Consumers continued to expect the future unemployment rate to be only slightly higher than the perceived current unemployment rate (9.9%), implying a broadly stable labour market.

Economic growth and labour market results

Housing and credit access

Consumers expected the price of their home to increase by 3.2% over the next 12 months, which was unchanged from April. Households in the lowest income quintile continued to expect higher growth in house prices compared with those in the highest income quintile (3.5% and 3.1% respectively). Expectations for mortgage interest rates 12 months ahead declined to 4.4%, from 4.5% in April. As in previous months, the lowest income households expected the highest mortgage interest rates 12 months ahead (4.9%), while the highest income households expected the lowest rates (4.1%). The net percentage of households reporting a tightening (relative to those reporting an easing) in access to credit over the previous 12 months declined. The net percentage of those expecting a tightening over the next 12 months declined as well, reversing the increase seen in April.

Housing and credit access results

The release of the Consumer Expectations Survey (CES) results for June is scheduled for 29 July 2025.

For media queries, please contact: Benoit Deeg, tel.: +49 172 1683704.

Notes
- Unless otherwise indicated, the statistics presented in this press release refer to the 2% winsorised mean. For further details, see ECB Consumer Expectations Survey – Guide to the computation of aggregate statistics.
- The CES is a monthly online survey of, currently, around 19,000 adult consumers (i.e. aged 18 or over) from 11 euro area countries: Belgium, Germany, Ireland, Greece, Spain, France, Italy, the Netherlands, Austria, Portugal and Finland. The main aggregate results of the CES are published on the ECB’s website every month. The results are used for policy analysis and complement other data sources used by the ECB.
- Further information about the survey and the data collected is available on the CES web page. Detailed information can also be found in the following two publications: Bańkowska, K. et al., “ECB Consumer Expectations Survey: an overview and first evaluation”, Occasional Paper Series, No 287, ECB, Frankfurt am Main, December 2021; and Georgarakos, D. and Kenny, G., “Household spending and fiscal support during the COVID-19 pandemic: Insights from a new consumer survey”, Journal of Monetary Economics, Vol. 129, Supplement, July 2022, pp. S1-S14.
- The survey results do not represent the views of the ECB’s decision-making bodies or staff.
MIL OSI Europe News –
July 1, 2025
MIL-OSI: Virtune announces the listing of Virtune Coinbase 50 Index ETP, its flagship product, on Euronext Paris
Source: GlobeNewswire (MIL-OSI)

Paris, July 1st, 2025 – Virtune AB, the Swedish regulated crypto asset manager, today announced the listing of Virtune Coinbase 50 Index ETP (VCOIN50) on Euronext Paris. The exchange-traded product (ETP) is now available to investors in France through brokers and banks.

Virtune has experienced sustained demand for digital assets from both institutional and retail investors across the Nordic and European regions since the launch of its first ETP around two years ago, earning the trust of over 140,000 investors. Building on this momentum, the VCOIN50 ETP – which was also listed on Xetra on June 2 – now marks another key milestone with its listing on Euronext Paris (Euronext ticker: VRTC), further advancing Virtune’s expansion into the European market. Coinbase is serving as the custodian for VCOIN50.

Virtune has made history as the first company to list a crypto Exchange Traded Product (ETP) tracking the Coinbase 50 Europe index, developed by Coinbase, a trusted and global leader in crypto services and administered by MarketVector IndexesTM (“MarketVector”), a leading global index provider.

This ETP represents several key firsts for European financial markets:
- First ever ETP to track the Coinbase 50 Europe Index
- The widest crypto ETP in Europe containing up to 50 crypto assets
About Virtune Coinbase 50 Index ETP:

Virtune Coinbase 50 Index ETP is a physically-backed exchange-traded product (ETP) tracking the Coinbase 50 Europe Index, the premier global benchmark index for digital assets. Currently, VCOIN50 ETP offers exposure to 21 crypto assets that are compliant with market-specific regulatory and exchange-specific policies. Virtune’s expansion to include all 50 assets in the COIN50 is subject to regulatory and stock exchange approvals. The ETP provides exposure to up to 50 leading crypto assets and is rebalanced quarterly. The product features a transparent structure backed by physical holdings and secured with institutional-level solutions.

Allocation as of 30th of June 2025:

https://www.virtune.com/product/vcoin50

About Virtune:

Virtune is a Swedish-regulated crypto asset manager and issuer of 100% physically backed crypto ETPs. The company has experienced rapid growth in the Nordics since listing its first crypto ETP on Nasdaq Stockholm in May 2023. Today, Virtune manages $340 million in assets under management and has earned the trust of over 140,000 institutional and retail investors. Since its inception, Virtune has prioritized investor protection, and its success stems from its transparent, regulated approach and strong commitment to innovation and educating the market about crypto assets and ETPs.

Christopher Kock, CEO of Virtune:

“We have worked closely with Coinbase since our inception, leveraging their industry-leading custody, trading, and staking services across all our ETPs. Following the successful launch of the COIN50 ETP, we are proud to now bring this product to a broader European audience through its cross-listing on Euronext Paris. COIN50, designed as the crypto market’s equivalent of the S&P 500, aims to become the leading global crypto benchmark. This ETP provides both institutional and retail investors with diversified exposure to the crypto market – crafted by industry experts with deep experience and insight.”

About Coinbase:

Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.

Brett Tejpaul, Head of Coinbase Institutional:

“With the launch of the Virtune Coinbase 50 Index ETP in Europe, we’re making one of the most comprehensive benchmarks for the crypto market directly accessible to investors across the EU. This marks a major step forward in our mission to expand global access to digital assets and provide institutional-grade tools for navigating this evolving asset class. The introduction of this ETP reinforces our commitment to bridging traditional financial infrastructure with the growing demand for regulated, secure exposure to the digital economy.”

About MarketVector:

MarketVector Indexes^TM (“MarketVector”) is a regulated Benchmark Administrator in Europe, incorporated in Germany and registered with the Federal Financial Supervisory Authority (BaFin). MarketVector maintains indexes under the MarketVector^TM, MVIS®, and BlueStar® names. With a mission to accelerate index innovation globally, MarketVector is best known for its broad suite of Thematic indexes, a long-running expertise in Hard Asset-linked Equity indexes, and its pioneering Digital Asset index family. MarketVector is proud to be in partnership with more than 25 Exchange-Traded Product (ETP) issuers and index fund managers in markets throughout the world, with more than USD 57 billion in assets under management.

Martin Leinweber, Director, Digital Asset Research and Strategy, MarketVector:

“The Virtune Coinbase 50 Index ETP marks a significant step forward for crypto investment in Europe, offering broad, institutional-grade exposure to digital assets through a single, efficient product. This milestone combines MarketVector’s index expertise, Coinbase’s market infrastructure, and Virtune’s transparent, regulated approach. We’re proud to deepen our partnership with Virtune by becoming the index provider for their entire range of crypto ETPs across Europe. Together, we’re delivering the tools institutional and retail investors need to navigate the digital asset landscape with greater confidence and clarity.”

Key Information about the Product:
- Exposure: Exposure to up to 50 leading crypto assets in one product
- Backing: 100% physically backed by the underlying crypto assets
- Custody: Institutional-grade custody by Coinbase
- Management Fee: 0.95% per annum
- Trading currency: USD, EUR
- First day of trading on Euronext: Monday, 30th of June 2025
- BloombergTicker: VCOIN50
- ISIN: SE0024738389
- WKN: A4A5D4
- Exchange ticker: VRTC
- Exchanges: Euronext Amsterdam, Euronext Paris, Xetra
For questions, contact:

Christopher Kock, CEO & Member of the Board of Directors
Mobile: +46 70 073 45 64
Email: christopher@virtune.com

About Virtune AB (Publ):

Headquartered in Stockholm, Virtune is a regulated Swedish digital asset manager and issuer of crypto ETPs listed on regulated European exchanges. With strong regulatory foundations, partnerships with industry leaders, and a skilled team, Virtune delivers innovative and compliant investment products aligned with the evolving global crypto landscape.

Crypto investments are associated with high risk. Virtune does not provide investment advice; investments are made at your own risk. Securities may increase or decrease in value, there is no guarantee of getting back invested capital. Read the prospectus, KID, terms at virtune.com.

The Coinbase 50 Europe Index (“Index”) is the exclusive property of MarketVector Indexes GmbH (“MarketVector”) and its Licensors and has been licensed for use by Virtune AB (Publ) (“Licensee”). MarketVector has contracted with CC Data Limited to maintain and calculate the Index. CC Data Limited uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards MarketVector, CC Data Limited has no obligation to point out errors in the Index to third parties. In particular, MarketVector is not responsible for the Licensee and/or for Licensee’s legality or suitability and/or for Licensee’s business offerings. Offerings by Licensee, may they be based on the Virtune Coinbase 50 Europe ETP (“Product”) or not, are not sponsored, endorsed, sold, or promoted by MarketVector and any of its affiliates, and MarketVector and any of its affiliates make no representation regarding the advisability of investing in Licensee and/or in Licensee’s business offerings. MARKETVECTOR AND ANY OF ITS AFFILIATES AND ANY OF ITS LICENSORS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO LICENSEE.

The MIL Network –
July 1, 2025
MIL-OSI Video: ECB Forum on Central Banking 2025 – Day 1

Source: European Central Bank (video statements)

The ECB Forum on Central Banking – the Sintra Forum – is an annual event organised by the European Central Bank and is held in Sintra, Portugal.

It brings together central bank governors, academics, financial market representatives, journalists and others to exchange views on current policy issues and discuss the Forum’s key topic from a longer-term perspective.

https://www.youtube.com/watch?v=G2qv5ht7Ets

MIL OSI Video –

July 1, 2025
MIL-OSI United Kingdom: Norway’s WTO Trade Policy Review: UK Statement
Source: United Kingdom – Executive Government & Departments 3

Speech

Norway’s WTO Trade Policy Review: UK Statement

UK Statement at Norway’s World Trade Organization Trade Policy Review. Delivered by the UK’s Permanent Ambassador to the WTO and UN, Simon Manley.
State Secretary, a very warm welcome to you and your delegation both from Oslo and here from Geneva. Thank you for bringing the spark of the land of Midnight Sun, beautiful Fjords and magical Northern Lights.

Thank you to the WTO Secretariat, as ever, for their report. Thank you, Chair, for your introductory comments. Thank you to our distinguished discussant for his insightful comments. I thought your final point about the value shown by the Norwegian case, but obviously a much broader point about institutions, is a very worthwhile one.

Thank you, also, to the government of Norway for piloting the new Trade Policy Review portal. We were particularly pleased to see it come to life given that we have our own TPR coming up later this year so we may see it in use again.

Report Analysis

Chair, the reports highlight Norway’s extraordinary economic resilience, keeping up its very high GDP per capita level despite the challenges of COVID-19 and the rest.

Its transformation into a high-income, knowledge-based economy, for us, reflects the power of open trade and strategic investment. The World Bank says that international trade accounts for over 80% of its GDP, which is remarkable.

Between 2018 and 2024, foreign trade rose steadily. Imports grew from over 700 billion Norwegian Krone to over one trillion Krone, and exports from just over one trillion Krone to almost two trillion Krone. Extraordinary figures. Excluding oil, gas, ships and drilling platforms, traditional goods trade rose by about 50% and services trade by 110%.

Testimony, if I may say, State Secretary, to your commitment to open trade and investment, but also the rewards of that commitment.

Digitoll

As noted in our Advance Written Questions, we’re particularly interested in the Digitoll customs declaration system, set for full rollout next year.

We very much welcome its aim to automate customs proceedings and speed up clearances, especially given imports represent over 40% of Norway’s GDP.

We look forward to further details and we wish you every success with that rollout.

Bilateral Relationship

Bilaterally, Chair, our relationship with Norway is exceptionally close. So close, in fact, that the Norwegian Prime Minister described us as ‘best friends’ during our own Prime Minister’s visit in May. As somebody who has been around in the diplomatic service for a few years, I have never seen it so strong. And we have had several ministerial visits just in the last 12 months.

And this relationship also extends to trade. In 2024, Norway was the UK’s 12th largest trading partner with total trade valued at over £38 billion.

Our UK-EEA/EFTA Free Trade Agreement (FTA), signed in 2021, is one of the UK’s most modern and comprehensive. This FTA is not only a successful deal for businesses in both countries but also provides our governments with the opportunity for regular dialogue on trade, which we very much appreciate.

Our Strategic Partnership, signed in December last year, adds further depth and breadth, particularly in priority sectors such as energy.

In May, we welcomed our Green Industrial Partnership, which reflects our unique energy relationship across the North Sea. And just last week, in our newly published and elegant Trade Strategy, we committed to build on that bilateral partnership, underscoring its importance for our shared clean energy goals.

Gender

Chair, our countries also share a commitment to gender equality in trade.

We welcome Norway’s efforts, including through its board composition requirements for limited liability companies. As one of the three co-chairs of our Informal Working Group on Trade and Gender here, let me commend Norway’s participation in that group, and encourage it to continue sharing its valuable practices here at the WTO.

WTO Engagement

Which brings me last, but by no means least, to Norway’s exemplary commitment to the multilateral trading system and to this organisation.

Like others, I must start by paying tribute to my colleague, true friend of the system and multi-hatted Norwegian colleague, Petter Ølberg. DSB Chair, DS Reform Facilitator, General Council Chair; his personal commitment to this organisation is clear as is his track record of success.

Petter, your leadership as GC Chair was genuinely inspiring. And we agree with your final message to all of us: real dialogue and real reform are essential to the future of this organisation.

So, we are thrilled that you have been appointed as Reform Facilitator. As outlined in our Trade Strategy we remain a staunch supporter of the multilateral trading system but we agree there is an urgent need for reform.

And so we welcome Norway’s participation in key WTO plurilateral initiatives, including the JSIs on Services Domestic Regulation, Electronic Commerce, and Investment Facilitation for Development. I think they reflect your forward looking approach, State Secretary, to modernising global trade rules and are a key part of those reform efforts.

We applaud your ratification of the Agreement on Fisheries Subsidies and encourage your continued leadership.

And your leadership on trade and environment is particularly commendable, where you have consistently championed ambitious and constructive engagement.

Like the UK, as you said at the beginning, State Secretary, our two countries see trade policy as an enabler of the vital move to net zero. Our new Trade Strategy supports this, as it underlines that we would like to go further with Norway and others to “go further and faster in the transition to net zero”.

And finally, on trade and development, your leadership and advocacy for the interests of developing countries is appreciated right across this organisation. As fellow donors, we have worked closely together, and will continue to do so, including through our support for the Advisory Centre on WTO Law and as Board members of the Enhanced Integrated Framework, to help ensure the proper participation of developing countries in the multilateral trading system.

Conclusion

So, to conclude, State Secretary, keep up the good work! Keep up being an example to all of us.

As this is my last Trade Policy Review, let me say that it has been a real pleasure to end with such a close trading partner and genuine friend as well as a good neighbour. Trade Policy Reviews, Chair, are fundamental to transparency and the good working of this organisation. And I know my successor, Kumar Iyer, and our team, are looking forward to our own first TPR later this year.

‘Tusen takk’ to you, State Secretary, and your team for your full and transparent engagement with this TPR, yet another example of your continued commitment to this organisation. Thank you.

Updates to this page

Published 1 July 2025
MIL OSI United Kingdom –
July 1, 2025
MIL-OSI: Virtune is listing Virtune Coinbase 50 Index ETP on Euronext Amsterdam and Paris

Source: GlobeNewswire (MIL-OSI)

Stockholm, July 1st, 2025 – Virtune, the Swedish regulated crypto asset manager, today announced the listing of Virtune Coinbase 50 Index ETP (VCOIN50) on Euronext Amsterdam and Paris. The exchange-traded product (ETP) is now available to investors in the Netherlands and France through brokers and banks. The product is also available to Swedish investors through Avanza and Montrose.

The VCOIN50 ETP – which was also listed on Xetra on June 2 – now marks another key milestone with its listing on Euronext Amsterdam and Paris, further advancing Virtune’s expansion into the European market. Coinbase is serving as the custodian for VCOIN50.

Virtune has made history as the first company to list a crypto Exchange Traded Product (ETP) tracking the Coinbase 50 Europe index, developed by Coinbase, a trusted and global leader in crypto services and administered by MarketVector Indexes™ (“MarketVector”), a leading global index provider.

About Virtune Coinbase 50 Index ETP:

Virtune Coinbase 50 Index ETP is a physically-backed exchange-traded product (ETP) tracking the Coinbase 50 Europe Index, the premier global benchmark index for digital assets. Currently, VCOIN50 ETP offers exposure to 21 crypto assets that are compliant with market-specific regulatory and exchange-specific policies. Virtune’s expansion to include all 50 assets in the COIN50 is subject to regulatory and stock exchange approvals. The ETP provides exposure to up to 50 leading crypto assets and is rebalanced quarterly. The product features a transparent structure backed by physical holdings and secured with institutional-level solutions.

Allocation as of 30th of June 2025:

https://www.virtune.com/product/vcoin50

Christopher Kock, CEO of Virtune:

“We have worked closely with Coinbase since our inception, leveraging their industry-leading custody, trading, and staking services across all our ETPs. Following the successful launch of the COIN50 ETP, we are proud to now bring this product to a broader European audience through its cross-listing on Euronext Amsterdam and Paris. COIN50, designed as the crypto market’s equivalent of the S&P 500, aims to become the leading global crypto benchmark. This ETP provides both institutional and retail investors with diversified exposure to the crypto market – crafted by industry experts with deep experience and insight.”

Brett Tejpaul, Head of Coinbase Institutional:

“With the launch of the Virtune Coinbase 50 Index ETP in Europe, we’re making one of the most comprehensive benchmarks for the crypto market directly accessible to investors across the EU. This marks a major step forward in our mission to expand global access to digital assets and provide institutional-grade tools for navigating this evolving asset class. The introduction of this ETP reinforces our commitment to bridging traditional financial infrastructure with the growing demand for regulated, secure exposure to the digital economy.”

Martin Leinweber, Director, Digital Asset Research and Strategy, MarketVector:

“The Virtune Coinbase 50 Index ETP marks a significant step forward for crypto investment in Europe, offering broad, institutional-grade exposure to digital assets through a single, efficient product. This milestone combines MarketVector’s index expertise, Coinbase’s market infrastructure, and Virtune’s transparent, regulated approach. We’re proud to deepen our partnership with Virtune by becoming the index provider for their entire range of crypto ETPs across Europe. Together, we’re delivering the tools institutional and retail investors need to navigate the digital asset landscape with greater confidence and clarity.”

Key Information about the Product:

Exposure: Exposure to up to 50 leading crypto assets in one product

Backing: 100% physically backed by the underlying crypto assets

Custody: Institutional-grade custody by Coinbase

Management Fee: 0.95% per annum

Trading currency: USD, EUR

First day of trading on Euronext Amsterdam and Paris: Monday, 30th of June 2025

BloombergTicker: VCOIN50

ISIN: SE0024738389

WKN: A4A5D4

Exchange ticker: VRTC

Exchanges: Euronext Amsterdam, Euronext Paris, Xetra

For questions, contact:

Christopher Kock, CEO & Member of the Board of Directors

Mobile: +46 70 073 45 64

E-mail: christopher@virtune.com

About Virtune AB (Publ):
Headquartered in Stockholm, Virtune is a regulated Swedish digital asset manager and issuer of crypto ETPs listed on regulated European exchanges. With strong regulatory foundations, partnerships with industry leaders, and a skilled team, Virtune delivers innovative and compliant investment products aligned with the evolving global crypto landscape.

Crypto investments are associated with high risk. Virtune does not provide investment advice; investments are made at your own risk. Securities may increase or decrease in value, there is no guarantee of getting back invested capital. Read the prospectus, KID, terms at virtune.com.

The Coinbase 50 Europe Index (“Index”) is the exclusive property of MarketVector Indexes GmbH (“MarketVector”) and its Licensors and has been licensed for use by Virtune AB (Publ) (“Licensee”). MarketVector has contracted with CC Data Limited to maintain and calculate the Index. CC Data Limited uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards MarketVector, CC Data Limited has no obligation to point out errors in the Index to third parties. In particular, MarketVector is not responsible for the Licensee and/or for Licensee’s legality or suitability and/or for Licensee’s business offerings. Offerings by Licensee, may they be based on the Virtune Coinbase 50 Europe ETP (“Product”) or not, are not sponsored, endorsed, sold, or promoted by MarketVector and any of its affiliates, and MarketVector and any of its affiliates make no representation regarding the advisability of investing in Licensee and/or in Licensee’s business offerings. MARKETVECTOR AND ANY OF ITS AFFILIATES AND ANY OF ITS LICENSORS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO LICENSEE.

The MIL Network –

July 1, 2025

MIL-OSI Europe: REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) 2021/1057 establishing the European Social Fund + (ESF+) as regards specific measures to address strategic challenges – A10-0122/2025

Source: European Parliament 2

DRAFT EUROPEAN PARLIAMENT LEGISLATIVE RESOLUTION

on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) 2021/1057 establishing the European Social Fund + (ESF+) as regards specific measures to address strategic challenges

(COM(2025)0164 – C10‑0064-2025 – 2025/0085(COD))

(Ordinary legislative procedure: first reading)

The European Parliament,

– having regard to the Commission proposal to Parliament and the Council (COM(2025)0164),

– having regard to Article 294(2) and Articles 164, 175, 177 and 322 of the Treaty on the Functioning of the European Union, pursuant to which the Commission submitted the proposal to Parliament (C10‑0064-2025),

– having regard to Article 294(3) of the Treaty on the Functioning of the European Union,

– having regard to the budgetary assessment by the Committee on Budgets,

– having regard to Rules 60 and 58 of its Rules of Procedure,

– having regard to the opinion of the Committee on Security and Defence,

– having regard to the letter from the Committee on Regional Development,

– having regard to the report of the Committee on Employment and Social Affairs (A10-0122/2025),

1. Adopts its position at first reading hereinafter set out;

2. Calls on the Commission to refer the matter to Parliament again if it replaces, substantially amends or intends to substantially amend its proposal;

3. Instructs its President to forward its position to the Council, the Commission and the national parliaments.

Amendment 1

Proposal for a regulation

Recital 1


Text proposed by the Commission	Amendment
(1) Given the major geopolitical and economic events that have reshaped some of the Union’s strategic political priorities, it is necessary to provide for possibilities for Member States to address those strategic challenges and to refocus their resources to newly emerging priorities.	(1) Given the major geopolitical and economic events that have reshaped some of the Union’s strategic political priorities, it is necessary to provide for more structural possibilities for Member States to address those strategic challenges and the investment needs of industries and to refocus their resources to newly emerging priorities in an inclusive manner and only where those challenges have not been addressed in the current programmes, while safeguarding cohesion, creating quality jobs and preserving a level playing field in the internal market.

Amendment 2

Proposal for a regulation

Recital 1 a (new)


Text proposed by the Commission	Amendment
	(1a) The ESF+ is an essential pillar of cohesion policy. The main objectives of the ESF+ are to support Member States and regions to achieve social inclusion, social cohesion, to activate the labour market and to deliver on the principles and the headline targets of the European Pillar of Social Rights by supporting investments in people and structures in the policy area of employment and social policies, which are far from met yet. ESF+ funding should support those objectives. The reprogramming of resources under the ESF+ should ensure that adjustment measures in response to strategic challenges do not undermine its social approach, but strengthen its capacity to combat inequality.

Amendment 3

Proposal for a regulation

Recital 1 b (new)


Text proposed by the Commission	Amendment
	(1b) The European Court of Auditors’ adopted on 6 May 2025 the opinion on the legislative proposal forming the basis for this Regulation.

Amendment 4

Proposal for a regulation

Recital 1 c (new)


Text proposed by the Commission	Amendment
	(1c) Cohesion policy is often used as an emergency response tool, which risks undermining the primary longer-term policy and objectives of cohesion policy, as underlined in the European Court of Auditors’ opinion of 6 May 2025. It is essential to ensure that any measures taken in the context of emergencies do not interfere with the objectives of cohesion policy. Member States should ensure safeguards in the regulatory framework to prevent the dismantling of the core objectives of the cohesion policy.

Amendment 5

Proposal for a regulation

Recital 1 d (new)


Text proposed by the Commission	Amendment
	(1d) The Union and its Member States continue to show that they can rapidly react to geopolitical events and are willing to use sufficient financial resources towards strengthening our defence industry through different Union and national programmes, which is positive and needed for the security of the Union. It is important to strengthen our defence sector through competitiveness programmes. At the same time, it is of utmost importance to continue to invest in the social objectives of the Union through the ESF+, as social cohesion is a cornerstone of the Union’s democratic and societal resilience which is essential in facing threats of aggression.

Amendment 6

Proposal for a regulation

Recital 2


Text proposed by the Commission	Amendment
(2) The White paper for European Defence – Readiness 20303 paves the way for a true European defence union, including by suggesting to Member States to heavily invest into defence and the defence industry. In that regard, the Communication from the Commission – the Union of Skills of 5 March 20254 (‘the Union of Skills Communication’) sets out actions to address skills gaps and shortages in the Union, also through the Pact for Skills Initiative referred to in that Communication, and its large-scale partnerships, including one on the defence ecosystem. Therefore, it is appropriate to include incentives for the ESF+ established by Regulation (EU) 2021/1057 of the European Parliament and of the Council5 to facilitate the development of skills in the defence industry.	(2) It is already possible to support the development of skills in the defence industry under the ESF+ established by Regulation (EU) 2021/1057 of the European Parliament and of the Council2a, to facilitate the development of skills and training in the defence industry, while safeguarding social standards. Together with the Niinisto Report, ‘Safer Together’, the EU Preparedness Strategy, and the European Defence Industrial Strategy, the White paper for European Defence – Readiness 20303 paves the way for a true European defence union, including by suggesting to Member States to heavily invest into defence, civil defence, the defence industry, dual use technologies and civil preparedness capabilities, which should be carried out together with social spending, creating employment and up- and reskilling opportunities . In that regard, the Communication from the Commission – the Union of Skills of 5 March 20254 (‘the Union of Skills Communication’) sets out actions to address skills gaps and shortages in the Union, also through the Pact for Skills Initiative referred to in that Communication, and its large-scale partnerships, including one on the defence ecosystem.
__________________	__________________
	2a Regulation (EU) 2021/1057 of the European Parliament and of the Council of 24 June 2021 establishing the European Social Fund Plus (ESF+) and repealing Regulation (EU) No 1296/2013 (OJ L 231, 30.6.2021, p. 21, ELI: http://data.europa.eu/eli/reg/2021/1057/oj).
3 Joint White Paper for European Defence Readiness 2030, JOIN(2025) 120 final, 19.3.2025.	3Joint White Paper for European Defence Readiness 2030, JOIN(2025) 120 final, 19.3.2025.
4 COM (2025) 90 final	4 COM (2025)0090
5 Regulation (EU) 2021/1057 of the European Parliament and of the Council of 24 June 2021 establishing the European Social Fund Plus (ESF+) and repealing Regulation (EU) No 1296/2013 (OJ L 231, 30.6.2021, p. 21, ELI: http://data.europa.eu/eli/reg/2021/1057/oj).

Amendment 7

Proposal for a regulation

Recital 3


Text proposed by the Commission	Amendment
(3) It is already possible to support the adaptation of workers, entrepreneurs and enterprises to change under the ESF+. In line with the decarbonisation measures proposed by the Communication from the Commission – the Clean Industrial Deal: A joint roadmap for competitiveness and decarbonisation of 26 February 20256 and to further facilitate industrial adjustment linked to the decarbonisation of production processes and products, in the context of the objective of providing lifelong opportunities to regularly upskill and reskill people, as set out in the Union of Skills Communication, including through a newly proposed Skills Guarantee, the ESF+ should facilitate the skilling, job maintenance and job creation throughout the decarbonisation process by providing flexibilities to implementation.	(3) It is already possible to support the adaptation of workers, entrepreneurs and enterprises to change under the ESF+. In line with the decarbonisation measures proposed by the Communication from the Commission – the Clean Industrial Deal: A joint roadmap for competitiveness and decarbonisation of 26 February 20256 and to further facilitate industrial adjustment linked to the decarbonisation of production processes and products, in the context of the objective of providing lifelong opportunities to regularly upskill and reskill people, as set out in the Union of Skills Communication, including through a newly proposed Skills Guarantee, the ESF+ should facilitate the skilling, job maintenance and quality job creation throughout the decarbonisation process by providing flexibilities to implementation. Particular consideration should be given to the specific needs and circumstances of less developed regions and rural areas, which should benefit from the green transition and to ensure their integration into the Union’s broader economic, social and environmental development. In accordance with Article 5(1), second subparagraph, of Regulation (EU) 2021/1060, the ESF+ contributes to the specific objective of enabling regions and people to address the social, employment, economic and environmental impacts of the transition towards the Union’s 2030 targets for energy and climate and a climate-neutral economy of the Union by 2050, based on the Paris Agreement.
__________________	__________________
6 COM (2025) 85 final	6 COM (2025)0085

Amendment 8

Proposal for a regulation

Recital 4


Text proposed by the Commission	Amendment
(4) It is already possible, under ESF+, to support investments contributing to the objectives of the ‘Strategic Technologies for Europe Platform’ (STEP) established by Regulation (EU) 2024/795 of the European Parliament and of the Council7 which aims to strengthen the Union’s technological leadership. In order to further incentivise investments from the ESF+ in those critical fields, the possibility for Member States to receive a higher pre-financing for related programme amendments should be extended.	(4) It is already possible, under ESF+, to support investments contributing to the objectives of the ‘Strategic Technologies for Europe Platform’ (STEP) established by Regulation (EU) 2024/795 of the European Parliament and of the Council7 which aims to strengthen the Union’s technological leadership and the development of skills. In order to further incentivise investments from the ESF+ in those critical fields, the possibility for Member States to receive a higher pre-financing for related programme amendments should be extended.
__________________	__________________
7 Regulation (EU) 2024/795 of the European Parliament and of the Council of 29 February 2024 establishing the Strategic Technologies for Europe Platform (STEP), and amending Directive 2003/87/EC and Regulations (EU) 2021/1058, (EU) 2021/1056, (EU) 2021/1057, (EU) No 1303/2013, (EU) No 223/2014, (EU) 2021/1060, (EU) 2021/523, (EU) 2021/695, (EU) 2021/697 and (EU) 2021/241 (OJ L, 2024/795, 29.2.2024, ELI: http://data.europa.eu/eli/reg/2024/795/oj)	7 Regulation (EU) 2024/795 of the European Parliament and of the Council of 29 February 2024 establishing the Strategic Technologies for Europe Platform (STEP), and amending Directive 2003/87/EC and Regulations (EU) 2021/1058, (EU) 2021/1056, (EU) 2021/1057, (EU) No 1303/2013, (EU) No 223/2014, (EU) 2021/1060, (EU) 2021/523, (EU) 2021/695, (EU) 2021/697 and (EU) 2021/241 (OJ L, 2024/795, 29.2.2024, ELI: http://data.europa.eu/eli/reg/2024/795/oj)

Amendment 9

Proposal for a regulation

Recital 8 a (new)


Text proposed by the Commission	Amendment
	(8a) Skills development and the training of young talent and entrepreneurs through incentives and targeted training are essential for job creation, and institutions working on skills creation and uptake should cooperate closely to align with labour market needs. Especially, vocational education and training institutes, given their direct links to the labour market and this should be supported through the ESF+.

Amendment 10

Proposal for a regulation

Recital 5


Text proposed by the Commission	Amendment
(5) In order to enable Member States to carry out a meaningful reprogramming and focus resources on strategic Union priorities set out in recitals 2, 3 and 4 without causing further delays in implementation, it is appropriate to provide for further flexibilities. The mid-term review should serve as an opportunity to address emerging strategic challenges and new priorities therefore, Member States should benefit from additional time to complete the assessment of the outcome of the mid-term review and the submission of related programme amendments	(5) In order to enable Member States to carry out a meaningful and just reprogramming without losing focus on the main objectives of the fund and focus resources on strategic Union priorities set out in recitals 2, 3 and 4 without causing further delays in implementation, it is appropriate to provide for further flexibilities. The mid-term review should serve as an opportunity to address emerging strategic social challenges and new priorities therefore, Member States should benefit from additional time to complete the assessment of the outcome of the mid-term review and the submission of related programme amendments. While aligning with new Union priorities, diverting attention to global strategic challenges should not change the primary mission of the ESF+. The cohesion policy must remain firmly rooted in its core objective: reducing regional disparities.

Amendment 11

Proposal for a regulation

Recital 6


Text proposed by the Commission	Amendment
(6) In order to accelerate the implementation of cohesion policy programmes and alleviate the pressure on national budgets and to inject the necessary liquidity for the implementation of key investments, an additional one-off pre-financing from the ESF+ should be paid for programmes. Because of the adverse impact of the Russian aggression in Ukraine, the pre-financing percentage should be further increased for certain programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine. In order to incentivise the re-programming towards key priorities in the context of the mid-term review, the additional pre-financing should only be available where a certain threshold for the reallocation of financial resources to specific crucial priorities is reached.	(6) NUTS2 regions bordering Russia, Belarus or Ukraine are disproportionate heavily impacted by Russian war of aggression, experiencing job losses, less economic activity and social exclusion. In order to accelerate the implementation of cohesion policy programmes and alleviate the pressure on national budgets and to inject the necessary liquidity for the implementation of key investments, an additional one-off pre-financing from the ESF+ should be paid for programmes. Because of the adverse impact of the Russian aggression in Ukraine, the pre-financing percentage should be further increased for certain programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine, with no specific conditions to reallocate financial resources of the programme to dedicated priorities.

Amendment 12

Proposal for a regulation

Recital 8


Text proposed by the Commission	Amendment
(8) It should also be possible to apply a maximum co-financing rate of up to 100% to priorities in programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine, given the adverse impact of the Russian aggression on those regions.	(8) It should also be possible, while taking into account the current differentiation between categories of regions, to apply a maximum co-financing rate of up to 95% to programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine, given the adverse impact of the Russian aggression on those regions.

Amendment 13

Proposal for a regulation

Recital 9


Text proposed by the Commission	Amendment
(9) Since the objectives of this Regulation, namely to address strategic challenges, refocus investments on critical new priorities and simplify and accelerate policy delivery, cannot be sufficiently achieved by the Member States but can rather be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union. In accordance with the principle of proportionality as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve that objective.	(9) Since the objectives of this Regulation, namely to address strategic social challenges, refocus investments on critical new priorities and simplify and accelerate policy delivery, cannot be sufficiently achieved by the Member States but can rather be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union. In accordance with the principle of proportionality as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve that objective.

Amendment 14

Proposal for a regulation

Recital 9 a (new)


Text proposed by the Commission	Amendment
	(9a) This Regulation has implications for the Union budget. Accordingly, the European Parliament’s Committee on Budgets adopted a budgetary assessment, which forms an integral part of Parliament’s mandate for negotiations.

Amendment 15

Proposal for a regulation

Recital 11


Text proposed by the Commission	Amendment
(11) [Given the urgent need to enable crucial investments in skills in the defence industry as well as in adaptation to change linked to decarbonisation in the context of pressing strategic geopolitical challenges, this Regulation should enter into force on the day following that of its publication in the Official Journal of the European Union,]	(11) [Given the increased need to enable crucial investments in specific skills in the critical industries, including the defence industry, as well as in adaptation to change linked to decarbonisation in the context of pressing strategic geopolitical challenges, this Regulation should enter into force on the day following that of its publication in the Official Journal of the European Union,]

Amendment 16

Proposal for a regulation

Article 1 – paragraph 1 – point 1

Regulation (EU) 2021/1057

Article 5a – paragraph 1 – subparagraph 1


Text proposed by the Commission	Amendment
In 2026, the Commission shall pay 4,5 % of the total support from the ESF+ as set out in the decision approving the programme amendment as additional one-off pre-financing. The one-off pre-financing percentage in 2026 shall be increased to 9,5% for programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine, provided the programme does not cover the entire territory of the Member State. Where, in a Member State, NUTS 2 regions bordering Russia, Belarus or Ukraine are included exclusively in programmes covering the entire territory of that Member State, the increased pre-financing set out in this paragraph shall apply to those programmes.	In 2026, the Commission shall pay 4,5 % of the total support from the ESF+ as set out in the decision approving the programme amendment as additional one-off pre-financing.

Justification

The minimum reprogramming threshold to be eligible to the 4,5% pre-financing should be lower as Member States should be incentivised to reprogramme to reasonable level. The one-off pre-financing for Eastern bordering regions should not be submitted to minimum reprogramming threshold taking into account the major challenges that these regions face, and the related subparagraph is moved in a new paragraph.

Amendment 17

Proposal for a regulation

Article 1 – paragraph 1 – point 1

Regulation (EU) 2021/1057

Article 5a – paragraph 1 – subparagraph 2


Text proposed by the Commission	Amendment
The additional pre-financing referred to in the first subparagraph of this paragraph shall only apply where reallocations of at least 15% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d have been approved; provided that the request for a programme amendment is submitted by 31 December 2025.	The additional pre-financing shall only apply where reallocations of at least 10% of financial resources of the programme from the ESF+ to one or more dedicated priorities established in accordance with Articles 12a 12c and 12d have been approved and provided that the measures supporting the dedicated priorities established in accordance with Articles 12a, 12c and 12d target smaller beneficiaries and provided that the request for a programme amendment is submitted by 31 December 2025.
	For the purpose of calculating the total reallocations of the financial resources of the programme from the ESF+ to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d, as referred to in the first subparagraph, the Commission shall assess the measures and take into account only the measures responding to the strategic priorities identified.

Amendment 18

Proposal for a regulation

Article 1 – paragraph 1 – point 1

Regulation (EU) 2021/1057

Article 5a – paragraph 1 a (new)


Text proposed by the Commission	Amendment
	1a. The one-off pre-financing percentage in 2026 shall be increased to 9,5% for programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine, provided that the programme does not cover the entire territory of the Member State. Where, in a Member State, NUTS 2 regions bordering Russia, Belarus or Ukraine are included exclusively in programmes covering the entire territory of that Member State, the increased pre-financing set out in this paragraph shall apply to those programmes. NUTS 2 regions bordering Russia, Belarus or Ukraine require special attention and exceptional support as they are often at the frontline of potential conflicts and they are vulnerable to external threats, making it crucial to supporting their resilience in countering hybrid attacks.
	The pre-financing due to the Member State which results from programme amendments pursuant to reallocation to the priorities referred to in the second subparagraph of this paragraph shall be counted as payments made in 2025 for the purposes of calculating the amounts to be de-committed in accordance with Article 105 of Regulation (EU) 2021/1060, provided that the request for programme amendment was submitted in 2025.

Amendment 19

Proposal for a regulation

Article 1 – paragraph 1 – point 1

Regulation (EU)2021/1057

Article 5a – paragraph 1 b (new)


Text proposed by the Commission	Amendment
	1b. Before disbursing payment for the pre-financing pursuant to this Article, the Commission shall assess the Union’s overall budgetary situation, in particular with respect to the principle of the sustainability of the Union budget. Where, on the basis of that assessment, the Commission identifies a risk to the Union budget arising from paying the full pre-financing amount in 2026, the Commission is empowered to adopt a delegated act in accordance with Article 37 to provide for only part of the pre-financing amount to be disbursed to the Member States in 2026, with the remaining part disbursed in 2027.

Amendment 20

Proposal for a regulation

Article 1 – paragraph 1 – point 1

Regulation (EU) 2021/1057

Article 5a – paragraph 2


Text proposed by the Commission	Amendment
(2) By way of derogation from Article 63(2) and Article 105(2) of Regulation (EU) 2021/1060, the deadline for the eligibility of expenditure, the reimbursement of costs as well as for decommitment shall be 31 December 2030. That derogation shall only apply where programme amendments reallocating at least 15% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d of this Regulation in the context of the mid-term review have been approved.	(2) By way of derogation from Article 63(2) and Article 105(2) of Regulation (EU) 2021/1060, the deadline for the eligibility of expenditure, the reimbursement of costs as well as for decommitment shall be 31 December 2030. That derogation shall only apply where programme amendments reallocating at least 10% of the ESF+ financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d of this Regulation in the context of the mid-term review have been approved.

Justification

The minimum reprogramming threshold to be eligible to the 4,5% pre-financing should be lower as Member States should be incentivised to reprogramme to reasonable level.

Amendment 21

Proposal for a regulation

Article 1 – paragraph 1 – point 1

Regulation (EU) 2021/1057

Article 5a – paragraph 2 a (new)


Text proposed by the Commission	Amendment
	(2a) When amending programmes, the Member States shall include, with the close and meaningful participation of social partners, for the dedicated priorities, obligations to the beneficiaries to respect working and employment conditions under applicable Union and national law, conventions of the International Labour Organization (ILO) and collective agreements.

Justification

In line with Articles 33 and 169 of the Financial Regulation.

Amendment 22

Proposal for a regulation

Article 1 – paragraph 1 – point 1

Regulation (EU) 2021/1057

Article 5a – paragraph 3


Text proposed by the Commission	Amendment
(3) By way of derogation from Article 112 of Regulation (EU) 2021/1060, the maximum co-financing rate for priorities in programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine shall be 100 %. The higher co-financing rate shall not apply to programmes covering the entire territory of the Member State concerned, unless those regions are included only in programmes covering the entire territory of that Member State. The derogation shall only apply where reallocations of at least 15% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d of this Regulation in the context of the mid-term review have been approved, provided that the programme amendment is submitted by 31 December 2025.	(3) By way of derogation from Article 112 of Regulation (EU) 2021/1060, the maximum co-financing rate for priorities in programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine shall be 95 %. The higher co-financing rate shall not apply to programmes covering the entire territory of the Member State concerned, unless those regions are included only in programmes covering the entire territory of that Member State.

Justification

The 95% co-financing rate for Eastern bordering regions should not be submitted to minimum reprogramming threshold taking into account the major challenges that these regions face.

Amendment 23

Proposal for a regulation

Article 1 – paragraph 1 – point 1

Regulation (EU) 2021/1057

Article 5a – paragraph 4


Text proposed by the Commission	Amendment
(4) In addition to the assessment for each programme on the outcome of the mid-term review to be submitted in accordance with Article 18(2) of Regulation (EU) 2021/1060, Member States may resubmit a complementary assessment as well as related requests for programme amendments, taking into account the possibility for dedicated priorities in accordance with Articles 12a, 12c and 12d within 2 months of the entry into force of Regulation (EU) XXXX/XXXX [this Regulation]. The deadlines set out in Article 18 (3) of Regulation (EU) 2021/1060 shall apply.	(4) In addition to the assessment for each programme on the outcome of the mid-term review to be submitted in accordance with Article 18(2) of Regulation (EU) 2021/1060, Member States may resubmit a complementary assessment as well as related requests for programme amendments, taking into account the possibility for dedicated priorities in accordance with Articles 12a 12c and 12d by 31 December 2025. The deadlines set out in Article 18 (3) of Regulation (EU) 2021/1060 shall apply.

Justification

Taking into account that a significant level of reprogramming is expected, Member States could need more time to provide a complementary assessment.

Amendment 24

Proposal for a regulation

Article 1 – paragraph 1 – point 2

Regulation (EU) 2021/1057

Article 12a – paragraph 2 – subparagraph 1


Text proposed by the Commission	Amendment
In addition to the pre-financing for the programme provided for in Article 90(1) and (2) of Regulation (EU) 2021/1060, where the Commission approves an amendment of a programme including one or more priorities dedicated to operations supported by the ESF+ contributing to the STEP objectives referred to in Article 2 of Regulation (EU) 2024/795, it shall make an exceptional pre-financing of 30 % on the basis of the allocation to those priorities, provided that the programme amendment is submitted to the Commission by 31 December 2025. That exceptional pre-financing shall be paid within 60 days of the adoption of the Commission decision approving the programme amendment.;	In addition to the pre-financing for the programme provided for in Article 90(1) and (2) of Regulation (EU) 2021/1060, where the Commission approves an amendment of a programme including one or more priorities dedicated to operations supported by the ESF+ contributing to the STEP objectives referred to in Article 2 of Regulation (EU) 2024/795, it shall make an exceptional pre-financing of 30 % on the basis of the allocation to those priorities, provided that smaller beneficiaries have priority access to the funding and that the programme amendment is submitted to the Commission by 31 December 2025. That exceptional pre-financing shall be paid within 60 days of the adoption of the Commission decision approving the programme amendment;

Amendment 25

Proposal for a regulation

Article 1 – paragraph 1 – point 3

Regulation (EU) 2021/1057

Article 12c – title


Text proposed by the Commission	Amendment
Support to the defence industry	Support to skills in civil preparedness and the defence industry

Amendment 26

Proposal for a regulation

Article 1 – paragraph 1 – point 3

Regulation (EU) 2021/1057

Article 12 c – paragraph 1


Text proposed by the Commission	Amendment
(1) Member States may decide to programme support to development of skills in the defence industry under dedicated priorities. Such dedicated priorities may support any of the specific objectives set out in Article 4(1), points (a) to (l).	(1) Member States may decide to programme support for the development of skills in the defence industry and cyber security under dedicated priorities, prioritising dual use capabilities related to civil defence and preparedness, provided that micro, small and medium- sized enterprises have priority access to the support. Such dedicated priorities may support any of the specific objectives set out in Article 4(1), points (a) to (g).
	In this context, Member States may allocate resources to attract young talent and entrepreneurs, particularly to rural or less developed regions, through incentives and targeted training.

Amendment 27

Proposal for a regulation

Article 1 – paragraph 1 – point 3

Regulation (EU) 2021/1057

Article 12c – paragraph 5


Text proposed by the Commission	Amendment
(5) By way of derogation from Article 112 of Regulation (EU) 2021/1060, the maximum co-financing rate for dedicated priorities referred to in paragraph 1 of this Article shall be 100%.	(5) By way of derogation from Article 112 of Regulation (EU) 2021/1060, the maximum co-financing rate for dedicated priorities referred to in paragraph 1 of this Article shall be increased by 10 percentage points above the co-financing rate applicable, not exceeding 100%.

Amendment 28

Proposal for a regulation

Article 1 – paragraph 1 – point 3

Regulation (EU) 2021/1057

Article 12d – paragraph 1


Text proposed by the Commission	Amendment
(1) Member States may decide to programme support aiming at skilling, up-skilling and re-skilling with a view to adaptation of workers, enterprises and entrepeneurs to change contributing to decarbonisation of production capacities under dedicated priorities. Such dedicated priorities may support any of the specific objectives set out in Article 4(1), points (a) to (l).	(1) Member States may, after consulting the social partners at national level, decide to programme targeted support aiming at skilling, up-skilling and re-skilling and training with a view to adaptation of workers, enterprises and entrepreneurs in particular micro, small and medium-sized enterprises and the social economy to change contributing to decarbonisation of production capacities under dedicated priorities, with in the objective of maintaining competitiveness, sustainability and innovation during the green transition. Such dedicated priorities may support any of the specific objectives set out in Article 4(1), points (a) to (g).
	Member States may support promoting collaboration between different organisations, such as educational institutions who support skills development, provided that such measures support any of the specific objectives set out in Article(4), points (a) to (g).
	Resources allocated to the dedicated priority referred to in the first two subparagraphs of this paragraph shall be taken into account when ensuring compliance with the thematic concentration requirements as set out in Article 7.

Amendment 29

Proposal for a regulation

Article 1 – paragraph 1 – point 3

Regulation (EU) 2021/1057

Article 12d – paragraph 5


Text proposed by the Commission	Amendment
(5) By way of derogation from Article 112 of Regulation (EU) 2021/1060, the maximum co-financing rate for dedicated priorities referred to in paragraph 1 of this Article shall be 100%..	(5) By way of derogation from Article 112 of Regulation (EU) 2021/1060, the maximum co-financing rate for dedicated priorities referred to in paragraph 1 of this Article shall be increased by 10 percentage points above the co-financing rate applicable, not exceeding 100%.

Amendment 30

Proposal for a regulation

Article 1 – paragraph 1 – point 3 a (new)

Regulation (EU) 2021/1057

Article 12d a (new)


Text proposed by the Commission	Amendment
	(3a) the following article is inserted:
	Article 12da
	Guidance and administrative simplification
	The Commission shall publish, by … [60 days after the entry into force of Regulation (EU) XXXX/XXXX (this amending Regulation)], detailed guidelines, accompanied by a Q&A system, aiming to clarify the technical, legal and procedural implications of the measures adopted in Articles 5a, 12c and 12d. Those guidelines shall support the managing authorities in the uniform application of this Regulation, reducing the administrative burden and facilitating solutions to early doubts.

ANNEX: ENTITIES OR PERSONS FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT

Pursuant to Article 8 of Annex I to the Rules of Procedure, the rapporteur declares that she received input from the following entities or persons in the preparation of the report, prior to the adoption thereof in committee:

Entity and/or person

ETUC

Social Platform

Save the Children

The list above is drawn up under the exclusive responsibility of the rapporteur.

Where natural persons are identified in the list by their name, by their function or by both, the rapporteur declares that she has submitted to the concerned natural persons the European Parliament’s Data Protection Notice No 484 (https://www.europarl.europa.eu/data-protect/index.do), which sets out the conditions applicable to the processing of their personal data and the rights linked to that processing.

BUDGETARY ASSESSMENT OF THE COMMITTEE ON BUDGETS (18.6.2025)

for the Committee on Employment and Social Affairs

(COM(2025)0164 – C10‑0064/2025 – 2025/0085(COD))

Rapporteur for budgetary assessment: Jean‑Marc Germain

The Committee on Budgets has carried out a budgetary assessment of the proposal under Rule 58 of the Rules of Procedure and has reached the following conclusions:

The Committee on Budgets,

A. whereas the proposal does not modify existing budgetary commitments and remains within the limits of the overall allocations for the period 2021-2027 and is therefore budgetary neutral;

B. whereas the combined effect of exceptional one-off 30 % pre-financing and 100 % co-financing on new EU priorities, as well as additional one-off pre-financing of 4.5 % (9.5 % for NUTS 2 regions that have borders with Russia, Belarus or Ukraine) for programmes that reallocate at least 15 % of their resources to the new priorities, leads to a partial frontloading of estimated payment appropriations of EUR 500 million in 2026, followed by lower payments in 2027;

C. whereas the extension of the eligibility period by one year – from the end of 2029 to the end of 2030 – for programmes that reallocate at least 15 % of their total allocation to new specific objectives creates payments in 2030 and changes the applicable decommitment rule for 2027 from year n+2 to year n+3;

Conclusions of the budgetary assessment

1. Determines that the proposal is compatible with the MFF Regulation [1]; notes that the proposed measures are voluntary and do not involve any top-up of the initial allocation available to Member States;

2. Notes that the proposal requires additional human resources of EUR 376 000 per year in 2025, 2026 and 2027, for two establishment plan posts; notes that the additional needs will be covered by redeployment within the Directorate-General or other Commission services; notes, however, that the overall impact of redeployments within the Commission services has reached its limit;

3. Determines that the proposal is compatible with the Interinstitutional agreement on budgetary discipline (IIA)[2]; notes, however, that re-programming in the context of the mid-term review is considered not to alter the contribution to climate targets as set out in point 16 of the IIA; underlines that allocating resources to new objectives, including for the competitiveness, preparedness and strategic autonomy of the EU, could lead to shifting resources from interventions with a higher coefficient for calculation of support to climate change objectives to interventions with a lower coefficient, thus potentially reducing the expenditure supporting climate objectives; invites the Commission to take preventive action to counter this risk; calls on the Commission to assess the impact of the revised plans on the shares of expenditure supporting climate objectives; notes also that the ‘do no significant harm’ principle should apply to all European investments in line with the applicable legislation;

4. Considers that the proposal is compatible with the budgetary principles laid down in the Financial Regulation [3]; notes, however, that the pre-financing paid in 2026 will be counted as payments made in 2025 for the purposes of calculating the amounts to be decommitted, in particular as regards respect for the principle of annuality;

5. Recalls the importance of the general regime of conditionality as set out in Article 6 of the Financial Regulation; urges the Commission and the Member States to ensure compliance with the Charter of Fundamental Rights of the European Union and to respect the Union values enshrined in Article 2 of the Treaty on European Union in the implementation of the budget;

6. Notes that the Commission does not expect any implications for the budget for 2025 beyond the redeployment of existing human resources; expects the Commission to take into account the current proposal and the updated payment needs for the European Social Fund Plus (ESF+) in the budgetary procedure for 2026 following the actual re-programming by Member States and to keep Parliament informed in a timely manner of the progress of the mid-term review in the Member States; calls for a prudent approach to payment frontloading;

Recommendations as regards budget implementation

7. Notes that the proposal provides further flexibility and introduces incentives for Member States in the context of the mid-term review of cohesion policy to address strategic challenges that the EU is facing by redirecting resources to new EU priorities; underlines that cohesion policy should not be used again as a crisis response tool and maintains that this approach risks undermining its longer-term policy and investment objectives, including investments in regional development, skills, innovation and productivity; regrets that the Commission did not perform an impact assessment of the changes; acknowledges that the proposal offers a pragmatic, albeit unsatisfactory, way forward for dealing with insufficient budgetary flexibility and response capacity in the EU budget;

8. Recalls that the ESF+ is an essential pillar of cohesion policy and its main objective is to support Member States and regions in achieving social inclusion and social cohesion, to activate the labour market and to deliver on the principles and the headline targets of the European Pillar of Social Rights by supporting investments in people and systems in the policy area of employment and social policies; highlights that the Member States should ensure safeguards in the regulatory framework to prevent the dismantling of the core objectives of cohesion policy; underlines the need to ensure that the implementation of the amended ESF+ Regulation [4] is accompanied by measures for simplification and strengthening of administrative capacities in order to drive investments in key sectors and increase the absorption rate;

9. Underlines that the combined effect of reallocating a minimum of 15 % of resources and of lifting of the 20 % ceiling for transfer towards Strategic Technologies for Europe Platform (STEP) objectives may have a negative impact on the achievements of targets initially set in the ESF+ Regulation and could result in some initially planned actions for later years not materialising owing to a discontinuity in matching objectives with resources, while noting the need to adapt to new priorities, taking into account the recent geopolitical dynamics;

10. Notes that payments to 2021-2027 cohesion policy programmes were of a very low level in the first years of implementation, leading to an increase in payment needs towards the later years; recalls that this actual payment cycle does not coincide with the more linear payment profile set out in the MFF Regulation [5] and that this situation results in a serious risk of exceeding payment ceilings; recalls that the gradual increase in payments towards the later part of the programming period is a feature of multiannual programmes; considers that the frontloading of payments towards 2026 could have an impact on the pressure on payments;

11. Recalls that the STEP Regulation [6] and the RESTORE Amending Regulation of 2024 were accompanied by a frontloading of payment appropriations in the budgets for 2024 and for 2025; notes that the total amount of payment appropriations in the 2026 draft budget is very close to the payment ceiling and is concerned, in this respect, about the high level of uncertainty with regard to the volume of payment claims in 2026; highlights the difficulties in predicting the take-up of the newly introduced flexibilities and incentives and in estimating payment needs, as also underpinned by the ongoing trend of increasing inaccuracy of payment forecasts by Member States; calls on the Commission to closely monitor payment developments and provide timely information to Parliament in this regard, and to propose any remedial action to the budgetary authority if needed;

12. Recalls that 100 % co-financing without additional resources leads to a lower total amount of financial support through the programme; insists that broadening the scope of investment must not lead to a reduction in financial support for the initial priorities of investing in employment, social services, inclusive education and skills, and of providing assistance to the most vulnerable, including children; recalls that mandatory co-financing is an important principle of cohesion policy funding;

13. Requests that the Commission provide traceable information in the form of timely reports on transfers to ensure that the impact of the mid-term review is clearly identifiable for the budgetary authority;

14. Calls on the Commission to maintain consistency in applying conditionality across all EU funding streams and insists that amendments in Parliament’s reading are essential to close any loophole; demands rigorous enforcement of conditionality mechanisms and explicitly rejects any reallocation of blocked cohesion policy funds if this would circumvent the rule-of-law-related requirements established in the Common Provisions Regulation [7]; underlines that rule of law conditionality is a fundamental principle that must apply to all EU funds without exception;

15. Considers that the actual take-up of the proposal may depend on various factors, such as the effectiveness of the 15 % re-allocation threshold and the availability of more favourable funding options under other Union programmes; considers that the proposed condition of the reallocation of at least 15 % of the funds to new priorities may be too high and unsuitable for single national programmes, as it could create implementation complications; highlights the importance of preventing double financing and calls on the Member States and the Commission to ensure that support for new types of investment is in addition to support under other Union programmes, including the EDF, EDIP and SAFE;

16. Notes that the mid-term review may reduce the amount of funds at risk of decommitment; recalls that an amount equivalent to the cumulative decommitments made on outstanding commitments since 2021 can be made available for the European Union Recovery Instrument (EURI); asks the Commission to provide further analysis of the impact of the mid-term review on the EURI instrument.

AMENDMENT

As part of its budgetary assessment, the Committee on Budgets also submits the following amendment to the proposal:

Amendment 1

Proposal for a regulation

Recital [9] a (new)


Text proposed by the Commission	Amendment
	([9]a) This Regulation has implications for the Union budget. Accordingly, the European Parliament’s Committee on Budgets adopted a budgetary assessment, which forms an integral part of Parliament’s mandate for negotiations.

ANNEX: ENTITIES OR PERSONS
FROM WHOM THE RAPPORTEUR FOR BUDGETARY ASSESSMENT HAS RECEIVED INPUT

The rapporteur for budgetary assessment declares under his exclusive responsibility that he did not receive input from any entity or person to be mentioned in this Annex pursuant to Article 8 of Annex I to the Rules of Procedure.

PROCEDURE – COMMITTEE ASKED FOR BUDGETARY ASSESSMENT

Title	Amending Regulation (EU) 2021/1057 establishing the European Social Fund + (ESF+) as regards specific measures to address strategic challenges
References	COM(2025)0164 – C10-0064/2025 – 2025/0085(COD)
Committee(s) responsible	EMPL
Budgetary assessment by Date announced in plenary	BUDG 5.5.2025
Rapporteur for budgetary assessment Date appointed	Jean-Marc Germain 12.5.2025
Discussed in committee	5.6.2025
Date adopted	16.6.2025
Result of final vote	+: –: 0:	24 6 3
Members present for the final vote	Georgios Aftias, Rasmus Andresen, Tomasz Buczek, Jens Geier, Thomas Geisel, Jean-Marc Germain, Sandra Gómez López, Andrzej Halicki, Alexander Jungbluth, Giuseppe Lupo, Ignazio Roberto Marino, Siegfried Mureşan, Jana Nagyová, Fernando Navarrete Rojas, Matjaž Nemec, Danuše Nerudová, Ruggero Razza, Karlo Ressler, Bogdan Rzońca, Hélder Sousa Silva, Joachim Streit, Carla Tavares, Nils Ušakovs, Lucia Yar, Auke Zijlstra
Substitutes present for the final vote	Pablo Arias Echeverría, Roman Haider, Céline Imart, Rasmus Nordqvist, Jacek Protas, Annamária Vicsek
Members under Rule 216(7) present for the final vote	Benoit Cassart, Andi Cristea

FINAL VOTE BY ROLL CALL
IN COMMITTEE ASKED FOR BUDGETARY ASSESSMENT

24	+
PPE	Georgios Aftias, Pablo Arias Echeverría, Andrzej Halicki, Céline Imart, Siegfried Mureşan, Fernando Navarrete Rojas, Danuše Nerudová, Jacek Protas, Karlo Ressler, Hélder Sousa Silva
Renew	Benoit Cassart, Joachim Streit, Lucia Yar
S&D	Andi Cristea, Jens Geier, Jean-Marc Germain, Sandra Gómez López, Giuseppe Lupo, Matjaž Nemec, Carla Tavares, Nils Ušakovs
Verts/ALE	Rasmus Andresen, Ignazio Roberto Marino, Rasmus Nordqvist

6	–
ESN	Alexander Jungbluth
NI	Thomas Geisel
PfE	Tomasz Buczek, Roman Haider, Annamária Vicsek, Auke Zijlstra

3	0
ECR	Ruggero Razza, Bogdan Rzońca
PfE	Jana Nagyová

Key to symbols:

+ : in favour

– : against

0 : abstention

OPINION OF THE COMMITTEE ON SECURITY AND DEFENCE (17.6.2025)

for the Committee on Employment and Social Affairs

on the proposal for a regulation of the European Parliament and of the Council on Amending Regulation (EU) 2021/1057 establishing the European Social Fund + (ESF+) as regards specific measures to address strategic challenges

((COM(2025)0164 – C10‑0064/2025 – (2025/0085(COD))

Rapporteur for opinion: Urmas Paet

AMENDMENTS

The Committee on Security and Defence submits the following to the Committee on Employment and Social Affairs, as the committee responsible:

Amendment 1

Proposal for a regulation

Recital 2


Text proposed by the Commission	Amendment
(2) The White paper for European Defence – Readiness 20303 paves the way for a true European defence union, including by suggesting to Member States to heavily invest into defence and the defence industry. In that regard, the Communication from the Commission – the Union of Skills of 5 March 20254 (‘the Union of Skills Communication’) sets out actions to address skills gaps and shortages in the Union, also through the Pact for Skills Initiative referred to in that Communication, and its large-scale partnerships, including one on the defence ecosystem. Therefore, it is appropriate to include incentives for the ESF+ established by Regulation (EU) 2021/1057 of the European Parliament and of the Council5 to facilitate the development of skills in the defence industry.	(2) The White paper for European Defence – Readiness 2030 of 19 March 2025 paves the way for a true European defence union, including by suggesting to Member States to heavily invest into defence and the defence industry. Investment in defence and security-related skills covering dual use and transferable skills contributes not only to European defence resilience but also to territorial cohesion. In that regard, the Communication from the Commission – the Union of Skills of 5 March 20254 (‘the Union of Skills Communication’) sets out actions to address skills gaps and shortages in the Union, also through the Pact for Skills Initiative referred to in that Communication, and its large-scale partnerships, including one on the defence ecosystem. Furthermore, lifelong learning programmes and initiatives should promote continuous development and adaptation to emerging technologies and defence needs. Moreover, in the European Defence Industrial Strategy of 5 March 2024, the Commission set the priority of the full integration of defence and security as a strategic objective of relevant Union funding and programmes, including ESF+. Therefore, it is appropriate to include incentives for the ESF+ established by Regulation (EU) 2021/1057 of the European Parliament and of the Council5 to facilitate the development of skills in the European defence industry, in particular to address skills gaps and shortages directly related to the ability to address the critical capability gaps set out in the White paper. Defence industry should be understood as the industries producing defence products, their respective supply chains, and industries which develop and produce dual-use goods.
__________________	__________________
3 Joint White Paper for European Defence Readiness 2030, JOIN(2025) 120 final, 19.3.2025.
4 COM (2025) 90 final	4 COM (2025) 90 final
5 Regulation (EU) 2021/1057 of the European Parliament and of the Council of 24 June 2021 establishing the European Social Fund Plus (ESF+) and repealing Regulation (EU) No 1296/2013 (OJ L 231, 30.6.2021, p. 21, ELI: http://data.europa.eu/eli/reg/2021/1057/oj).	5 Regulation (EU) 2021/1057 of the European Parliament and of the Council of 24 June 2021 establishing the European Social Fund Plus (ESF+) and repealing Regulation (EU) No 1296/2013 (OJ L 231, 30.6.2021, p. 21, ELI: http://data.europa.eu/eli/reg/2021/1057/oj).

Amendment 2

Proposal for a regulation

Recital 2 a (new)


Text proposed by the Commission	Amendment
	(2a) In accordance with Article 7 of Regulation (EU) 2021/1057 , Member States should promote synergies and avoid duplications between actions arising for dedicated priorities referred to in Article 12c and actions resulting from other Union programmes that benefit the defence industry.

Amendment 3

Proposal for a regulation

Article 1 – paragraph 1 – point 1

Regulation (EU) 2021/1057

Article 5a – paragraph 1 – subparagraph 1


Text proposed by the Commission	Amendment
In 2026, the Commission shall pay 4,5 % of the total support from the ESF+ as set out in the decision approving the programme amendment as additional one-off pre-financing. The one-off pre-financing percentage in 2026 shall be increased to 9,5% for programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine, provided the programme does not cover the entire territory of the Member State. Where, in a Member State, NUTS 2 regions bordering Russia, Belarus or Ukraine are included exclusively in programmes covering the entire territory of that Member State, the increased pre-financing set out in this paragraph shall apply to those programmes.	In 2026, the Commission shall pay 4,5 % of the total support from the ESF+ as set out in the decision approving the programme amendment as additional one-off pre-financing. The one-off pre-financing percentage in 2026 shall be increased to 9,5% for programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine, provided the programme does not cover the entire territory of the Member State. Where, in a Member State, NUTS 2 regions bordering Russia, Belarus or Ukraine are included exclusively in programmes covering the entire territory of that Member State, the increased pre-financing set out in this paragraph shall apply to those programmes. NUTS 2 regions bordering Russia, Belarus or Ukraine require special attention and exceptional support as they are often at the frontline of potential conflicts and they are vulnerable to external threats, making it crucial to support their resilience in countering hybrid attacks, breaches of the Union’s external borders, terrorist activities and war.

Amendment 4

Proposal for a regulation

Article 1 – paragraph 1 – point 1

Regulation (EU) 2021/1057

Article 5a – paragraph 1 – subparagraph 2


Text proposed by the Commission	Amendment
The additional pre-financing referred to in the first subparagraph of this paragraph shall only apply where reallocations of at least 15% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d have been approved; provided that the request for a programme amendment is submitted by 31 December 2025.	The additional pre-financing referred to in the first subparagraph of this paragraph shall only apply where reallocations of at least 5% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d have been approved; provided that the request for a programme amendment is submitted by 31 December 2025.

Amendment 5

Proposal for a regulation

Article 1 – paragraph 1 – point 1

Regulation (EU) 2021/1057

Article 5a – paragraph 2


Text proposed by the Commission	Amendment
(2) By way of derogation from Article 63(2) and Article 105(2) of Regulation (EU) 2021/1060, the deadline for the eligibility of expenditure, the reimbursement of costs as well as for decommitment shall be 31 December 2030. That derogation shall only apply where programme amendments reallocating at least 15% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d of this Regulation in the context of the mid-term review have been approved.	(2) By way of derogation from Article 63(2) and Article 105(2) of Regulation (EU) 2021/1060, the deadline for the eligibility of expenditure, the reimbursement of costs as well as for decommitment shall be 31 December 2030. That derogation shall only apply where programme amendments reallocating at least 5% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d of this Regulation in the context of the mid-term review have been approved.

Amendment 6

Proposal for a regulation

Article 1 – paragraph 1 – point 1

Regulation (EU) 2021/1057

Article 5a – paragraph 2a (new)


Text proposed by the Commission	Amendment
	(2a) The Member States shall work closely with social partners, when reprogramming, and respect working and employment conditions under applicable ILO conventions, Union and national law and collective agreements.

Amendment 7

Proposal for a regulation

Article 1 – paragraph 1 – point 1

Regulation (EU) 2021/1057

Article 5a – paragraph 3


Text proposed by the Commission	Amendment
(3) By way of derogation from Article 112 of Regulation (EU) 2021/1060, the maximum co-financing rate for priorities in programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine shall be 100 %. The higher co-financing rate shall not apply to programmes covering the entire territory of the Member State concerned, unless those regions are included only in programmes covering the entire territory of that Member State. The derogation shall only apply where reallocations of at least 15% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d of this Regulation in the context of the mid-term review have been approved, provided that the programme amendment is submitted by 31 December 2025.	(3) By way of derogation from Article 112 of Regulation (EU) 2021/1060, the maximum co-financing rate for priorities in programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine shall be 100 %. The higher co-financing rate shall not apply to programmes covering the entire territory of the Member State concerned, unless those regions are included only in programmes covering the entire territory of that Member State. The derogation shall only apply where reallocations of at least 5% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d of this Regulation in the context of the mid-term review have been approved, provided that the programme amendment is submitted by 31 December 2025.

Amendment 8

Proposal for a regulation

Article 1 – paragraph 1 – point 3

Regulation (EU) 2021/1057

Article 12c – title


Text proposed by the Commission	Amendment
Support to the defence industry	Support European defence industry and cybersecurity

Amendment 9

Proposal for a regulation

Article 1 – paragraph 1 – point 3

Regulation (EU) 2021/1057

Article 12c – paragraph 1


Text proposed by the Commission	Amendment
(1) Member States may decide to programme support to development of skills in the defence industry under dedicated priorities. Such dedicated priorities may support any of the specific objectives set out in Article 4(1), points (a) to (l).	(1) Member States may decide to programme support to development of skills in the defence industry and related cybersecurity, as well as in skills related to civil defence and preparedness under dedicated priorities to meet urgent needs. Such dedicated priorities may support any of the specific objectives set out in Article 4(1), points (a) to (l). This support may include actions that promote the recognition of skills acquired during military service and facilitate their conversion into qualifications recognised on the civilian labour market.

Amendment 10

Proposal for a regulation

Article 1 – paragraph 1 – point 3

Regulation (EU) 2021/1057

Article 12c – paragraph 3 – subparagraph 1


Text proposed by the Commission	Amendment
In addition to the yearly pre-financing for the programme provided for in Article 90(1) and (2) of Regulation (EU) 2021/1060, the Commission shall pay 30% of the allocation to the dedicated priorities referred to in paragraph 1 of this Article as set out in the decision approving the programme amendment as exceptional one-off pre-financing.	In addition to the yearly pre-financing for the programme provided for in Article 90(1) and (2) of Regulation (EU) 2021/1060, the Commission shall pay 35% of the allocation to the dedicated priorities referred to in paragraph 1 of this Article as set out in the decision approving the programme amendment as exceptional one-off pre-financing.

Amendment 11

Proposal for a regulation

Article 1 – paragraph 1 – point 3

Regulation (EU) 2021/1057

Article 12c – paragraph 5a (new)


Text proposed by the Commission	Amendment
	(5a) When allocating funds to dedicated priorities pursuant to paragraph 1, Member States shall ensure that those funds contribute to the Member States’ ability to address critical capability gaps set out in the White Paper for European Defence – Readiness 2030.

ANNEX: ENTITIES OR PERSONS
FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT

The rapporteur for the opinion declares under his exclusive responsibility that he did not receive input from any entity or person to be mentioned in this Annex pursuant to Article 8 of Annex I to the Rules of Procedure.

PROCEDURE – COMMITTEE ASKED FOR OPINION

Title	Amending Regulation (EU) 2021/1057 establishing the European Social Fund + (ESF+) as regards specific measures to address strategic challenges
References	COM(2025)0164 – C10-0064/2025 – 2025/0085(COD)
Committee(s) responsible	EMPL
Opinion by Date announced in plenary	SEDE 5.5.2025
Rapporteur for the opinion Date appointed	Urmas Paet 14.5.2025
Discussed in committee	3.6.2025
Date adopted	16.6.2025
Result of final vote	+: –: 0:	31 8 4
Members present for the final vote	Petras Auštrevičius, Wouter Beke, Marc Botenga, Tobias Cremer, Salvatore De Meo, Özlem Demirel, Elio Di Rupo, Michał Dworczyk, Alberico Gambino, Niclas Herbst, Costas Mavrides, Vangelis Meimarakis, Ana Catarina Mendes, Sven Mikser, Hans Neuhoff, Andrey Novakov, Kostas Papadakis, Nicolás Pascual de la Parte, Reinis Pozņaks, Marjan Šarec, Mārtiņš Staķis, Marie-Agnes Strack-Zimmermann, Michał Szczerba, Riho Terras, Pierre-Romain Thionnet, Mihai Tudose, Reinier Van Lanschot, Roberto Vannacci, Michael von der Schulenburg, Alexandr Vondra, Lucia Yar
Substitutes present for the final vote	José Cepeda, Bart Groothuis, Marina Mesure, Thijs Reuten, Hélder Sousa Silva, Villy Søvndal, Petra Steger, Claudiu-Richard Târziu, Matej Tonin, Marta Wcisło
Members under Rule 216(7) present for the final vote	Anna Bryłka, Tomasz Buczek

FINAL VOTE BY ROLL CALL
BY THE COMMITTEE ASKED FOR OPINION

31	+
ECR	Michał Dworczyk, Alberico Gambino, Reinis Pozņaks, Claudiu-Richard Târziu, Alexandr Vondra
PPE	Wouter Beke, Salvatore De Meo, Niclas Herbst, Vangelis Meimarakis, Andrey Novakov, Nicolás Pascual de la Parte, Hélder Sousa Silva, Michał Szczerba, Riho Terras, Matej Tonin, Marta Wcisło
PfE	Pierre-Romain Thionnet
Renew	Petras Auštrevičius, Bart Groothuis, Marjan Šarec, Marie-Agnes Strack-Zimmermann, Lucia Yar
S&D	José Cepeda, Tobias Cremer, Elio Di Rupo, Costas Mavrides, Ana Catarina Mendes, Sven Mikser, Thijs Reuten, Mihai Tudose
Verts/ALE	Mārtiņš Staķis

8	–
ESN	Hans Neuhoff
NI	Kostas Papadakis, Michael von der Schulenburg
PfE	Petra Steger, Roberto Vannacci
The Left	Marc Botenga, Özlem Demirel, Marina Mesure

4	0
PfE	Anna Bryłka, Tomasz Buczek
Verts/ALE	Villy Søvndal, Reinier Van Lanschot

Key to symbols:

+ : in favour

– : against

0 : abstention

LETTER OF THE COMMITTEE ON REGIONAL DEVELOPMENT (25.6.2025)

Ms Li Andersson

Chair

Committee on Employment and Social Affairs

BRUSSELS

Subject: Opinion on Amending Regulation (EU) 2021/1057 establishing the European Social Fund + (ESF+) as regards specific measures to address strategic challenges (2025/0085(COD) – COM(2025)0164 – C10-0064/2025)

Dear Ms Andersson,

Under the procedure referred to above, the Committee on Regional Development was asked to submit an opinion to your Committee.

At its meeting of 9 April 2025, REGI committee decided to send the opinion in the form of a letter. It discussed the matter at its meeting of 13 May 2025 and adopted the opinion at its meeting of 25 June 2025 [8].

The Committee on Regional Development:

1. Underlines the crucial role that cohesion policy and sectoral programmes, in spite of the fact that they are not crisis management instruments, have repeatedly and efficiently played in helping regions to respond effectively to emergencies and asymmetric shocks such as the COVID-19 crisis, Brexit, the energy crisis and the refugee crisis caused by Russia’s invasion of Ukraine, as well as natural disasters;

2. Is aware of the rapidly evolving economic, societal, environmental and geopolitical context, as well as the housing crisis, and shares the need for more flexibility in assessing the extent to which cohesion policy programmes can help respond to these changes; nevertheless is of the firm opinion that the capacity to offer flexible responses to unpredictable challenges should not come at the expense of the clear long-term strategic focus and objectives of cohesion policy, in accordance with Article 174 TFEU;

3. Reiterates that ESF+ stands as positive example of EU solidarity and that its main objective is to support Member States and regions to achieve social inclusion, social cohesion, to activate the labour market and to deliver on the principles and the headline targets of the European Pillar of Social Rights that are far from met yet; stresses that the reprogramming of resources under the ESF+ should ensure that adjustment measures in response to strategic challenges do not undermine its social approach, but strengthen its capacity to combat inequality;

4. Underlines the fact that cohesion policy shall first and foremost ensure social cohesion, not defence spending; nonetheless acknowledges that flexibility of the policy from the point of view of the beneficiaries is a key point, and stresses the need to provide regions with greater flexibility already when programming the funding, in order to cater for their particular needs and specificities, particularly border regions; furthermore acknowledges that investment in defence capabilities through the development of skills and training, while safeguarding social standards, is already possible under the ESF+ established by Regulation (EU) 2021/1057;

5. Acknowledges that investment in defence capabilities and in adaptation linked to decarbonisation makes a key contribution to the promotion of the competitiveness, preparedness and strategic autonomy of the EU, and requires having people with the right skills; in general, recognises the importance of the development of skills through lifelong learning and training models, targeted in particular at young people not in education, employment and training (NEET) and unemployed people, and targeted also at teachers, trainers, mentors, coaches, as well as entrepreneurs and researchers; encourages in this regard private sector involvement to enhance skills development and labour market integration, ensuring that ESF+ investments translate into tangible economic benefits; calls for stronger partnerships between businesses, educational institutions, and regional authorities to align training programs with labour market demands, fostering innovation and job creation;

6. Stresses the strategic importance of strong external border regions for the security and resilience of the EU; welcomes the focus given by the legislative proposal to the challenges the Eastern border regions are facing since the Russian aggression against Ukraine began; supports the proposal that programmes under the Investment for jobs and growth goal, with NUTS 2 regions that have borders with Russia, Belarus or Ukraine, should benefit from the possibility of a one-off 9.5% pre-financing of the programme allocation in 2026 and a 100% Union financing;

7. Reaffirms that cohesion policy and ESF+ should reach all EU regions, especially those affected by transformation processes, while keeping a focus on least developed regions and people; stresses that cohesion policy should be deepened where possible, with a view to remain the EU’s main long-term investment instrument for reducing disparities, ensuring economic, social and territorial cohesion, and stimulating regional and local sustainable growth in line with EU strategies;

8. Reiterates the importance of compliance with horizontal enabling conditions, and stresses that funds suspended under Regulation 2020/2092 should not be subject to amended programmes or transfers;

9. Encourages the European Commission to allow for targeted simplification measures in Member States where administrative capacity constraints may hinder full or efficient absorption of ESF+ and cohesion funds, and to provide technical assistance to local and regional authorities to ensure efficient implementation and spending; furthermore stresses the importance of simplifying the rules and procedures to limit bureaucratic burden;

10. Believes that the ESF+ strengthens a pro-European identity in the entire EU and should be communicated as such and that local and regional authorities, in light of their role as both beneficiary and managing authority, as well as social partners shall be meaningfully involved in the formulation of new legislative proposals and in the revision of programmes pursuant to the mid-term review, in order to guarantee more effectiveness and coordination between the ESF+ and the broader cohesion and regional policy and its financing tools;

11. Suggests laying down measures to facilitate access for Outermost Regions to flexibilities introduced by the mid-term review, such as lowering to 10% the amounts of reallocations to one or more dedicated priorities established in the second subparagraph of Art. 5a(1), and in the first subparagraph of Art. 5a(2), which are required to benefit from the additional one-off pre-financing.

Yours sincerely,

Dragoş BENEA

ANNEX: ENTITIES OR PERSONS
FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT

The Chair declares under his exclusive responsibility that he did not receive input from any entity or person to be mentioned in this Annex pursuant to Article 8 of Annex I to the Rules of Procedure.

PROCEDURE – COMMITTEE RESPONSIBLE

Title	Amending Regulation (EU) 2021/1057 establishing the European Social Fund + (ESF+) as regards specific measures to address strategic challenges
References	COM(2025)0164 – C10-0064/2025 – 2025/0085(COD)
Date submitted to Parliament	2.4.2025
Committee(s) responsible Date announced in plenary	EMPL 5.5.2025
Committees asked for opinions Date announced in plenary	SEDE 5.5.2025	BUDG 5.5.2025	ITRE 5.5.2025	REGI 5.5.2025
Not delivering opinions Date of decision	ITRE 9.4.2025
Rapporteurs Date appointed	Marit Maij 8.5.2025
Simplified procedure – date of decision	5.5.2025
Budgetary assessment Date of budgetary assessment	BUDG 16.6.2025
Discussed in committee	13.5.2025
Date adopted	25.6.2025
Result of final vote	+: –: 0:	32 15 11
Members present for the final vote	Maravillas Abadía Jover, Grégory Allione, Marc Angel, Pascal Arimont, Konstantinos Arvanitis, Nikola Bartůšek, Gabriele Bischoff, Vilija Blinkevičiūtė, Rachel Blom, Andrzej Buła, David Casa, Estelle Ceulemans, Leila Chaibi, Per Clausen, Henrik Dahl, Johan Danielsson, Marie Dauchy, Mélanie Disdier, Elena Donazzan, Gheorghe Falcă, Chiara Gemma, Niels Geuking, Isilda Gomes, Alicia Homs Ginel, Sérgio Humberto, Katrin Langensiepen, Miriam Lexmann, Marit Maij, Marlena Maląg, Jagna Marczułajtis-Walczak, Idoia Mendia, Maria Ohisalo, Branislav Ondruš, Aodhán Ó Ríordáin, Nicola Procaccini, Dennis Radtke, Nela Riehl, Liesbet Sommen, Villy Søvndal, Pál Szekeres, Georgiana Teodorescu, Jana Toom, Raffaele Topo, Francesco Torselli, Brigitte van den Berg, Marie-Pierre Vedrenne, Marianne Vind, Mariateresa Vivaldini, Petar Volgin, Jan-Peter Warnke, Séverine Werbrouck
Substitutes present for the final vote	Regina Doherty, Rosa Estaràs Ferragut, Kathleen Funchion, Rudi Kennes, Hristo Petrov
Members under Rule 216(7) present for the final vote	Mireia Borrás Pabón, Paulo Do Nascimento Cabral
Date tabled	30.6.2025

FINAL VOTE BY ROLL CALL BY THE COMMITTEE RESPONSIBLE

32	+
ECR	Georgiana Teodorescu
PPE	Maravillas Abadía Jover, Pascal Arimont, Andrzej Buła, David Casa, Henrik Dahl, Regina Doherty, Paulo Do Nascimento Cabral, Rosa Estaràs Ferragut, Gheorghe Falcă, Niels Geuking, Sérgio Humberto, Jagna Marczułajtis-Walczak, Dennis Radtke, Liesbet Sommen
Renew	Grégory Allione, Hristo Petrov, Jana Toom, Brigitte van den Berg, Marie-Pierre Vedrenne
S&D	Marc Angel, Gabriele Bischoff, Vilija Blinkevičiūtė, Estelle Ceulemans, Johan Danielsson, Isilda Gomes, Alicia Homs Ginel, Marit Maij, Idoia Mendia, Aodhán Ó Ríordáin, Raffaele Topo, Marianne Vind

15	–
ESN	Petar Volgin
NI	Branislav Ondruš, Jan-Peter Warnke
PfE	Nikola Bartůšek, Rachel Blom, Mireia Borrás Pabón, Marie Dauchy, Mélanie Disdier, Pál Szekeres, Séverine Werbrouck
The Left	Konstantinos Arvanitis, Leila Chaibi, Per Clausen, Kathleen Funchion, Rudi Kennes

11	0
ECR	Elena Donazzan, Chiara Gemma, Marlena Maląg, Nicola Procaccini, Francesco Torselli, Mariateresa Vivaldini
PPE	Miriam Lexmann
Verts/ALE	Katrin Langensiepen, Maria Ohisalo, Nela Riehl, Villy Søvndal

Key to symbols:

+ : in favour

– : against

0 : abstention

MIL OSI Europe News –

July 1, 2025

MIL-OSI Asia-Pac: MOFA response to IPAC statement condemning China for alleged plot targeting Vice President Hsiao

Source: Republic of China Taiwan

MOFA response to IPAC statement condemning China for alleged plot targeting Vice President Hsiao

June 27, 2025 The Inter-Parliamentary Alliance on China (IPAC) issued a statement on June 27 condemning China for an alleged plot to engineer a collision with a car carrying Vice President Hsiao Bi-khim during a visit to the Czech Republic in March 2024 when she was serving as vice president-elect. It denounced China for conspiring to engage in an act of state terrorism and said that the planning of such an overt act of politically motivated violence in a foreign country represented the crossing of a threshold and disregard for international diplomatic norms. Expressing solidarity with Vice President Hsiao and with Taiwanese citizens who may be subject to coercion by the Chinese state while traveling abroad, the statement also emphasized that Taiwan’s future should be determined by the Taiwanese people and called upon the governments of IPAC member countries to condemn the PRC’s unacceptable actions.

The Ministry of Foreign Affairs sincerely appreciates IPAC taking a stand and urging nations to strongly condemn China for seeking to engage in unlawful activities in other countries that amount to state terrorism. The contempt for international diplomatic norms, violent disregard for personal safety, and deliberate and worsening attempts to suppress Taiwan displayed by China in its actions are a clear demonstration of its exceedingly disgraceful and unscrupulous behavior. This is unacceptable to the international community. MOFA once again strongly condemns China and solemnly demands that it issue an apology.

MIL OSI Asia Pacific News –

July 1, 2025
MIL-OSI: Virtune announces the listing of Virtune Coinbase 50 Index ETP, its flagship product, on Euronext Amsterdam
Source: GlobeNewswire (MIL-OSI)

Amsterdam, July 1st, 2025 – Virtune AB, the Swedish regulated crypto asset manager, today announced the listing of Virtune Coinbase 50 Index ETP (VCOIN50) on Euronext Amsterdam. The exchange-traded product (ETP) is now available to investors in the Netherlands through brokers and banks such as Degiro.

Virtune has experienced sustained demand for digital assets from both institutional and retail investors across the Nordic and European regions since the launch of its first ETP around two years ago, earning the trust of over 140,000 investors. Building on this momentum, the VCOIN50 ETP – which was also listed on Xetra on June 2 – now marks another key milestone with its listing on Euronext Amsterdam (Euronext ticker: VRTC), further advancing Virtune’s expansion into the European market. Coinbase is serving as the custodian for VCOIN50.

Virtune has made history as the first company to list a crypto Exchange Traded Product (ETP) tracking the Coinbase 50 Europe index, developed by Coinbase, a trusted and global leader in crypto services and administered by MarketVector IndexesTM (“MarketVector”), a leading global index provider.

This ETP represents several key firsts for European financial markets:
- First ever ETP to track the Coinbase 50 Europe Index
- The widest crypto ETP in Europe containing up to 50 crypto assets
About Virtune Coinbase 50 Index ETP:

Virtune Coinbase 50 Index ETP is a physically-backed exchange-traded product (ETP) tracking the Coinbase 50 Europe Index, the premier global benchmark index for digital assets. Currently, VCOIN50 ETP offers exposure to 21 crypto assets that are compliant with market-specific regulatory and exchange-specific policies. Virtune’s expansion to include all 50 assets in the COIN50 is subject to regulatory and stock exchange approvals. The ETP provides exposure to up to 50 leading crypto assets and is rebalanced quarterly. The product features a transparent structure backed by physical holdings and secured with institutional-level solutions.

Allocation as of 30th of June 2025:
https://www.virtune.com/product/vcoin50

About Virtune:

Virtune is a Swedish-regulated crypto asset manager and issuer of 100% physically backed crypto ETPs. The company has experienced rapid growth in the Nordics since listing its first crypto ETP on Nasdaq Stockholm in May 2023. Today, Virtune manages $340 million in assets under management and has earned the trust of over 140,000 institutional and retail investors. Since its inception, Virtune has prioritized investor protection, and its success stems from its transparent, regulated approach and strong commitment to innovation and educating the market about crypto assets and ETPs.

Christopher Kock, CEO of Virtune:

“We have worked closely with Coinbase since our inception, leveraging their industry-leading custody, trading, and staking services across all our ETPs. Following the successful launch of the COIN50 ETP, we are proud to now bring this product to a broader European audience through its cross-listing on Euronext Amsterdam. COIN50, designed as the crypto market’s equivalent of the S&P 500, aims to become the leading global crypto benchmark. This ETP provides both institutional and retail investors with diversified exposure to the crypto market – crafted by industry experts with deep experience and insight.”

About Coinbase:

Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.

Brett Tejpaul, Head of Coinbase Institutional:

“With the launch of the Virtune Coinbase 50 Index ETP in Europe, we’re making one of the most comprehensive benchmarks for the crypto market directly accessible to investors across the EU. This marks a major step forward in our mission to expand global access to digital assets and provide institutional-grade tools for navigating this evolving asset class. The introduction of this ETP reinforces our commitment to bridging traditional financial infrastructure with the growing demand for regulated, secure exposure to the digital economy.”

About MarketVector:

MarketVector Indexes^TM (“MarketVector”) is a regulated Benchmark Administrator in Europe, incorporated in Germany and registered with the Federal Financial Supervisory Authority (BaFin). MarketVector maintains indexes under the MarketVector^TM, MVIS®, and BlueStar® names. With a mission to accelerate index innovation globally, MarketVector is best known for its broad suite of Thematic indexes, a long-running expertise in Hard Asset-linked Equity indexes, and its pioneering Digital Asset index family. MarketVector is proud to be in partnership with more than 25 Exchange-Traded Product (ETP) issuers and index fund managers in markets throughout the world, with more than USD 57 billion in assets under management.

Martin Leinweber, Director, Digital Asset Research and Strategy, MarketVector:

“The Virtune Coinbase 50 Index ETP marks a significant step forward for crypto investment in Europe, offering broad, institutional-grade exposure to digital assets through a single, efficient product. This milestone combines MarketVector’s index expertise, Coinbase’s market infrastructure, and Virtune’s transparent, regulated approach. We’re proud to deepen our partnership with Virtune by becoming the index provider for their entire range of crypto ETPs across Europe. Together, we’re delivering the tools institutional and retail investors need to navigate the digital asset landscape with greater confidence and clarity.”

Key Information about the Product:
- Exposure: Exposure to up to 50 leading crypto assets in one product
- Backing: 100% physically backed by the underlying crypto assets
- Custody: Institutional-grade custody by Coinbase
- Management Fee: 0.95% per annum
- Trading currency: USD, EUR
- First day of trading on Euronext: Monday, 30th of June 2025
- BloombergTicker: VCOIN50
- ISIN: SE0024738389
- WKN: A4A5D4
- Exchange ticker: VRTC
- Exchanges: Euronext Amsterdam, Euronext Paris, Xetra
For questions, contact:

Christopher Kock, CEO & Member of the Board of Directors
Mobile: +46 70 073 45 64
Email: christopher@virtune.com

About Virtune AB (Publ):

Headquartered in Stockholm, Virtune is a regulated Swedish digital asset manager and issuer of crypto ETPs listed on regulated European exchanges. With strong regulatory foundations, partnerships with industry leaders, and a skilled team, Virtune delivers innovative and compliant investment products aligned with the evolving global crypto landscape.

Crypto investments are associated with high risk. Virtune does not provide investment advice; investments are made at your own risk. Securities may increase or decrease in value, there is no guarantee of getting back invested capital. Read the prospectus, KID, terms at virtune.com.

The Coinbase 50 Europe Index (“Index”) is the exclusive property of MarketVector Indexes GmbH (“MarketVector”) and its Licensors and has been licensed for use by Virtune AB (Publ) (“Licensee”). MarketVector has contracted with CC Data Limited to maintain and calculate the Index. CC Data Limited uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards MarketVector, CC Data Limited has no obligation to point out errors in the Index to third parties. In particular, MarketVector is not responsible for the Licensee and/or for Licensee’s legality or suitability and/or for Licensee’s business offerings. Offerings by Licensee, may they be based on the Virtune Coinbase 50 Europe ETP (“Product”) or not, are not sponsored, endorsed, sold, or promoted by MarketVector and any of its affiliates, and MarketVector and any of its affiliates make no representation regarding the advisability of investing in Licensee and/or in Licensee’s business offerings. MARKETVECTOR AND ANY OF ITS AFFILIATES AND ANY OF ITS LICENSORS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO LICENSEE.

The MIL Network –
July 1, 2025
MIL-OSI: Barclays Bank PLC: AI Prime & Cy S.C.A. announces pricing of an accelerated placing of shares of InPost S.A.

Source: GlobeNewswire (MIL-OSI)

LONDON, July 01, 2025 (GLOBE NEWSWIRE) —

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN OFFER FOR SALE OF, OR THE SOLICITATION OF AN OFFER TO BUY, THE SECURITIES REFERRED TO HEREIN IN ANY JURISDICTION, INCLUDING THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW.

PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

01 July 2025

AI Prime & Cy S.C.A. announces pricing of an accelerated placing of shares of InPost S.A.

AI Prime & Cy S.C.A. (“AI Prime”), an Advent International company has priced an accelerated placing (the “Placing”) to institutional investors of 17.5 million ordinary shares in InPost S.A. (the “Company”), constituting c.3.5% of the Company’s existing share capital, at a price of EUR 13.25 per ordinary share.

Upon settlement of the Placing, the aggregate total ownership interest of Advent International in the Company’s issued ordinary share capital will be c.6.5%. Settlement is expected to occur on 3 July 2025.

As part of the transaction, remaining shares in the Company held by AI Prime will be subject to a 60 day lock-up period from the settlement date, subject to customary exemptions.

Barclays Bank PLC acted as Sole Global Co-ordinator and Bookrunner on the Placing.

The Company will not receive any proceeds from the Placing.

IMPORTANT NOTICE

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY OF THESE SECURITIES IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION. THE SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM UNITED STATES REGISTRATION REQUIREMENTS. NO PUBLIC OFFER OF SECURITIES IS TO BE MADE IN THE UNITED STATES AND NEITHER THIS ANNOUNCEMENT NOR ANY COPY OF IT MAY BE TAKEN, TRANSMITTED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, SOUTH AFRICA OR JAPAN. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES, CANADIAN, SOUTH AFRICAN OR JAPANESE SECURITIES LAWS.

THIS ANNOUNCEMENT AND ANY OFFER OF SHARES PURSUANT TO THE PLACING (“PLACING SHARES“) IF MADE SUBSEQUENTLY ARE ONLY ADDRESSED TO AND DIRECTED AT PERSONS (1) IN THE EEA WHO ARE QUALIFIED INVESTORS WITHIN THE MEANING OF REGULATION (EU) 2017/1129 (THE “PROSPECTUS REGULATION“) AND (2) IN THE UNITED KINGDOM, WHO ARE QUALIFIED INVESTORS WITHIN THE MEANING OF THE PROSPECTUS REGULATION AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AND WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS WHO FALL WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (AS AMENDED, THE “ORDER“) OR ARE HIGH NET WORTH ENTITIES FALLING WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER OR ARE PERSONS TO WHOM AN OFFER OF THE PLACING SHARES MAY OTHERWISE BE LAWFULLY COMMUNICATED (ALL SUCH PERSONS BEING REFERRED TO AS “RELEVANT PERSONS“). PERSONS WHO ARE NOT RELEVANT PERSONS SHOULD NOT TAKE ANY ACTION ON THE BASIS OF THIS ANNOUNCEMENT AND SHOULD NOT ACT OR RELY ON IT.

THE SECURITIES REFERRED TO HEREIN WILL BE OFFERED (I) WITHIN THE UNITED STATES ONLY TO A LIMITED NUMBER OF QUALIFIED INSTITUTIONAL BUYERS AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT“) PURSUANT TO AN EXEMPTION FROM, OR IN TRANSACTIONS NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AND (II) OUTSIDE THE UNITED STATES IN RELIANCE ON REGULATION S UNDER THE SECURITIES ACT, IN EACH CASE SUBJECT TO PREVAILING MARKET AND OTHER CONDITIONS. THERE IS NO ASSURANCE THAT THE PLACING WILL BE COMPLETED, OR IF COMPLETED, AS TO THE TERMS ON WHICH IT IS COMPLETED. THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES WITHOUT REGISTRATION THEREUNDER OR UNLESS PURSUANT TO AN AVAILABLE EXEMPTION THEREFROM. NEITHER THIS DOCUMENT NOR THE INFORMATION CONTAINED HEREIN CONSTITUTES OR FORMS PART OF AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, SECURITIES IN THE UNITED STATES. THERE WILL BE NO PUBLIC OFFER OF ANY SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION.

THIS ANNOUNCEMENT DOES NOT, AND SHALL NOT, IN ANY CIRCUMSTANCES CONSTITUTE A PUBLIC OFFERING, NOR AN OFFER TO SELL OR TO SUBSCRIBE, NOR A SOLICITATION TO OFFER TO PURCHASE OR TO SUBSCRIBE SECURITIES IN ANY JURISDICTION. THE DISTRIBUTION OF THIS ANNOUNCEMENT AND THE OFFERING OR SALE OF THE SECURITIES IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW. NO ACTION HAS BEEN TAKEN BY AI PRIME, BARCLAYS BANK PLC (THE “GLOBAL CO-ORDINATOR“) OR ANY OF THEIR RESPECTIVE AFFILIATES THAT WOULD, OR WHICH IS INTENDED TO, PERMIT A PUBLIC OFFER OF THE SECURITIES IN ANY JURISDICTION OR POSSESSION OR DISTRIBUTION OF THIS ANNOUNCEMENT OR ANY OTHER OFFERING OR PUBLICITY MATERIAL RELATING TO THE SECURITIES IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED. PERSONS INTO WHOSE POSSESSION THIS ANNOUNCEMENT COMES ARE REQUIRED BY AI PRIME AND THE GLOBAL CO-ORDINATOR TO INFORM THEMSELVES ABOUT AND TO OBSERVE ANY APPLICABLE RESTRICTIONS.

NO PROSPECTUS OR OFFERING DOCUMENT HAS BEEN OR WILL BE PREPARED IN CONNECTION WITH THE PLACING. ANY INVESTMENT DECISION IN CONNECTION WITH THE PLACING MUST BE MADE SOLELY ON THE BASIS OF PUBLICLY AVAILABLE INFORMATION RELATING TO THE COMPANY AND ITS SHARES. SUCH INFORMATION HAS NOT BEEN INDEPENDENTLY VERIFIED AND AI PRIME AND THE GLOBAL CO-ORDINATOR ARE NOT RESPONSIBLE, AND EXPRESSLY DISCLAIM ANY LIABILITY, FOR SUCH INFORMATION. THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS FOR BACKGROUND PURPOSES ONLY AND DOES NOT PURPORT TO BE FULL OR COMPLETE. NO RELIANCE MAY BE PLACED FOR ANY PURPOSE ON THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT OR ON ITS ACCURACY OR COMPLETENESS.

IN CONNECTION WITH THE PLACING, THE GLOBAL CO-ORDINATOR OR ANY OF ITS AFFILIATES MAY TAKE UP A PORTION OF THE PLACING SHARES AS A PRINCIPAL POSITION AND IN THAT CAPACITY MAY RETAIN, PURCHASE, SELL OR OFFER TO SELL FOR ITS OWN ACCOUNT SUCH PLACING SHARES AND OTHER SECURITIES OF THE COMPANY OR RELATED INVESTMENTS IN CONNECTION WITH THE PLACING OR OTHERWISE. ACCORDINGLY, REFERENCES TO THE PLACING SHARES BEING OFFERED, ACQUIRED, PLACED OR OTHERWISE DEALT IN SHOULD BE READ AS INCLUDING ANY OFFER TO, OR ACQUISITION, PLACING OR DEALING BY THE GLOBAL CO-ORDINATOR AND ANY OF ITS AFFILIATES ACTING AS INVESTORS FOR THEIR OWN ACCOUNTS. THE GLOBAL CO-ORDINATOR DOES NOT INTEND TO DISCLOSE THE EXTENT OF ANY SUCH INVESTMENT OR TRANSACTIONS OTHERWISE THAN IN ACCORDANCE WITH ANY LEGAL OR REGULATORY OBLIGATIONS TO DO SO.

THIS ANNOUNCEMENT DOES NOT PURPORT TO IDENTIFY OR SUGGEST THE RISKS (DIRECT OR INDIRECT) WHICH MAY BE ASSOCIATED WITH AN INVESTMENT IN THE COMPANY OR ITS SHARES.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE A RECOMMENDATION CONCERNING THE PLACING. THE PRICE AND VALUE OF SECURITIES AND ANY INCOME FROM THEM CAN GO DOWN AS WELL AS UP. PAST PERFORMANCE IS NOT A GUIDE TO FUTURE PERFORMANCE. ACQUIRING PLACING SHARES TO WHICH THIS ANNOUNCEMENT RELATES MAY EXPOSE AN INVESTOR TO A SIGNIFICANT RISK OF LOSING ALL OF THE AMOUNT INVESTED. POTENTIAL INVESTORS SHOULD CONSULT A PROFESSIONAL ADVISOR AS TO THE SUITABILITY OF THE PLACING FOR THE ENTITY OR PERSON CONCERNED. THIS ANNOUNCEMENT DOES NOT REPRESENT THE ANNOUNCEMENT OF A DEFINITIVE AGREEMENT TO PROCEED WITH THE PLACING AND, ACCORDINGLY, THERE CAN BE NO CERTAINTY THAT THE PLACING WILL PROCEED. AI PRIME RESERVES THE RIGHT NOT TO PROCEED WITH THE PLACING OR TO VARY THE TERMS OF THE PLACING IN ANY WAY.

BARCLAYS BANK PLC IS AUTHORISED IN THE UNITED KINGDOM BY THE PRUDENTIAL REGULATION AUTHORITY AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY AND THE PRUDENTIAL REGULATION AUTHORITY. THE GLOBAL CO-ORDINATOR IS ACTING FOR AI PRIME AND NO-ONE ELSE IN CONNECTION WITH THE PLACING. NEITHER THE GLOBAL CO-ORDINATOR NOR ANY OF ITS AFFILIATES, NOR THEIR RESPECTIVE PARTNERS, DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS WILL REGARD ANY OTHER PERSON AS A CLIENT IN CONNECTION WITH THE PLACING AND THEY WILL NOT BE RESPONSIBLE TO ANYONE OTHER THAN AI PRIME FOR PROVIDING THE PROTECTIONS AFFORDED TO THEIR RESPECTIVE CLIENTS OR FOR PROVIDING ADVICE IN CONNECTION WITH THE PLACING DESCRIBED IN THIS ANNOUNCEMENT OR FOR ANY OTHER MATTERS REFERRED TO HEREIN.

CERTAIN FIGURES CONTAINED IN THIS ANNOUNCEMENT HAVE BEEN SUBJECT TO ROUNDING ADJUSTMENTS. ACCORDINGLY, IN CERTAIN INSTANCES, THE SUM OR PERCENTAGE CHANGE OF THE NUMBERS CONTAINED IN THIS ANNOUNCEMENT MAY NOT CONFORM EXACTLY WITH THE TOTAL FIGURE GIVEN.

THIS ANNOUNCEMENT INCLUDES STATEMENTS THAT ARE, OR MAY BE DEEMED TO BE, FORWARD-LOOKING STATEMENTS. THESE FORWARD-LOOKING STATEMENTS MAY BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY, INCLUDING THE TERMS “INTENDS”, “EXPECTS”, “WILL”, OR “MAY”, OR, IN EACH CASE, THEIR NEGATIVE OR OTHER VARIATIONS OR COMPARABLE TERMINOLOGY, OR BY DISCUSSIONS OF STRATEGY, PLANS, OBJECTIVES, GOALS, FUTURE EVENTS OR INTENTIONS. THESE FORWARD-LOOKING STATEMENTS INCLUDE ALL MATTERS THAT ARE NOT HISTORICAL FACTS AND INCLUDE STATEMENTS REGARDING INTENTIONS, BELIEFS OR CURRENT EXPECTATIONS. NO ASSURANCES CAN BE GIVEN THAT THE FORWARD-LOOKING STATEMENTS IN THIS ANNOUNCEMENT WILL BE REALISED. AS A RESULT, NO UNDUE RELIANCE SHOULD BE PLACED ON THESE FORWARD-LOOKING STATEMENTS AS A PREDICTION OF ACTUAL EVENTS OR OTHERWISE.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

The MIL Network –

July 1, 2025
MIL-OSI: Barclays Bank PLC: AI Prime & Cy S.C.A. announces pricing of an accelerated placing of shares of InPost S.A.

Source: GlobeNewswire (MIL-OSI)

LONDON, July 01, 2025 (GLOBE NEWSWIRE) —

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN OFFER FOR SALE OF, OR THE SOLICITATION OF AN OFFER TO BUY, THE SECURITIES REFERRED TO HEREIN IN ANY JURISDICTION, INCLUDING THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW.

PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

01 July 2025

AI Prime & Cy S.C.A. announces pricing of an accelerated placing of shares of InPost S.A.

AI Prime & Cy S.C.A. (“AI Prime”), an Advent International company has priced an accelerated placing (the “Placing”) to institutional investors of 17.5 million ordinary shares in InPost S.A. (the “Company”), constituting c.3.5% of the Company’s existing share capital, at a price of EUR 13.25 per ordinary share.

Upon settlement of the Placing, the aggregate total ownership interest of Advent International in the Company’s issued ordinary share capital will be c.6.5%. Settlement is expected to occur on 3 July 2025.

As part of the transaction, remaining shares in the Company held by AI Prime will be subject to a 60 day lock-up period from the settlement date, subject to customary exemptions.

Barclays Bank PLC acted as Sole Global Co-ordinator and Bookrunner on the Placing.

The Company will not receive any proceeds from the Placing.

IMPORTANT NOTICE

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY OF THESE SECURITIES IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION. THE SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM UNITED STATES REGISTRATION REQUIREMENTS. NO PUBLIC OFFER OF SECURITIES IS TO BE MADE IN THE UNITED STATES AND NEITHER THIS ANNOUNCEMENT NOR ANY COPY OF IT MAY BE TAKEN, TRANSMITTED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, SOUTH AFRICA OR JAPAN. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES, CANADIAN, SOUTH AFRICAN OR JAPANESE SECURITIES LAWS.

THIS ANNOUNCEMENT AND ANY OFFER OF SHARES PURSUANT TO THE PLACING (“PLACING SHARES“) IF MADE SUBSEQUENTLY ARE ONLY ADDRESSED TO AND DIRECTED AT PERSONS (1) IN THE EEA WHO ARE QUALIFIED INVESTORS WITHIN THE MEANING OF REGULATION (EU) 2017/1129 (THE “PROSPECTUS REGULATION“) AND (2) IN THE UNITED KINGDOM, WHO ARE QUALIFIED INVESTORS WITHIN THE MEANING OF THE PROSPECTUS REGULATION AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AND WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS WHO FALL WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (AS AMENDED, THE “ORDER“) OR ARE HIGH NET WORTH ENTITIES FALLING WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER OR ARE PERSONS TO WHOM AN OFFER OF THE PLACING SHARES MAY OTHERWISE BE LAWFULLY COMMUNICATED (ALL SUCH PERSONS BEING REFERRED TO AS “RELEVANT PERSONS“). PERSONS WHO ARE NOT RELEVANT PERSONS SHOULD NOT TAKE ANY ACTION ON THE BASIS OF THIS ANNOUNCEMENT AND SHOULD NOT ACT OR RELY ON IT.

THE SECURITIES REFERRED TO HEREIN WILL BE OFFERED (I) WITHIN THE UNITED STATES ONLY TO A LIMITED NUMBER OF QUALIFIED INSTITUTIONAL BUYERS AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT“) PURSUANT TO AN EXEMPTION FROM, OR IN TRANSACTIONS NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AND (II) OUTSIDE THE UNITED STATES IN RELIANCE ON REGULATION S UNDER THE SECURITIES ACT, IN EACH CASE SUBJECT TO PREVAILING MARKET AND OTHER CONDITIONS. THERE IS NO ASSURANCE THAT THE PLACING WILL BE COMPLETED, OR IF COMPLETED, AS TO THE TERMS ON WHICH IT IS COMPLETED. THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES WITHOUT REGISTRATION THEREUNDER OR UNLESS PURSUANT TO AN AVAILABLE EXEMPTION THEREFROM. NEITHER THIS DOCUMENT NOR THE INFORMATION CONTAINED HEREIN CONSTITUTES OR FORMS PART OF AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, SECURITIES IN THE UNITED STATES. THERE WILL BE NO PUBLIC OFFER OF ANY SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION.

THIS ANNOUNCEMENT DOES NOT, AND SHALL NOT, IN ANY CIRCUMSTANCES CONSTITUTE A PUBLIC OFFERING, NOR AN OFFER TO SELL OR TO SUBSCRIBE, NOR A SOLICITATION TO OFFER TO PURCHASE OR TO SUBSCRIBE SECURITIES IN ANY JURISDICTION. THE DISTRIBUTION OF THIS ANNOUNCEMENT AND THE OFFERING OR SALE OF THE SECURITIES IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW. NO ACTION HAS BEEN TAKEN BY AI PRIME, BARCLAYS BANK PLC (THE “GLOBAL CO-ORDINATOR“) OR ANY OF THEIR RESPECTIVE AFFILIATES THAT WOULD, OR WHICH IS INTENDED TO, PERMIT A PUBLIC OFFER OF THE SECURITIES IN ANY JURISDICTION OR POSSESSION OR DISTRIBUTION OF THIS ANNOUNCEMENT OR ANY OTHER OFFERING OR PUBLICITY MATERIAL RELATING TO THE SECURITIES IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED. PERSONS INTO WHOSE POSSESSION THIS ANNOUNCEMENT COMES ARE REQUIRED BY AI PRIME AND THE GLOBAL CO-ORDINATOR TO INFORM THEMSELVES ABOUT AND TO OBSERVE ANY APPLICABLE RESTRICTIONS.

NO PROSPECTUS OR OFFERING DOCUMENT HAS BEEN OR WILL BE PREPARED IN CONNECTION WITH THE PLACING. ANY INVESTMENT DECISION IN CONNECTION WITH THE PLACING MUST BE MADE SOLELY ON THE BASIS OF PUBLICLY AVAILABLE INFORMATION RELATING TO THE COMPANY AND ITS SHARES. SUCH INFORMATION HAS NOT BEEN INDEPENDENTLY VERIFIED AND AI PRIME AND THE GLOBAL CO-ORDINATOR ARE NOT RESPONSIBLE, AND EXPRESSLY DISCLAIM ANY LIABILITY, FOR SUCH INFORMATION. THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS FOR BACKGROUND PURPOSES ONLY AND DOES NOT PURPORT TO BE FULL OR COMPLETE. NO RELIANCE MAY BE PLACED FOR ANY PURPOSE ON THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT OR ON ITS ACCURACY OR COMPLETENESS.

IN CONNECTION WITH THE PLACING, THE GLOBAL CO-ORDINATOR OR ANY OF ITS AFFILIATES MAY TAKE UP A PORTION OF THE PLACING SHARES AS A PRINCIPAL POSITION AND IN THAT CAPACITY MAY RETAIN, PURCHASE, SELL OR OFFER TO SELL FOR ITS OWN ACCOUNT SUCH PLACING SHARES AND OTHER SECURITIES OF THE COMPANY OR RELATED INVESTMENTS IN CONNECTION WITH THE PLACING OR OTHERWISE. ACCORDINGLY, REFERENCES TO THE PLACING SHARES BEING OFFERED, ACQUIRED, PLACED OR OTHERWISE DEALT IN SHOULD BE READ AS INCLUDING ANY OFFER TO, OR ACQUISITION, PLACING OR DEALING BY THE GLOBAL CO-ORDINATOR AND ANY OF ITS AFFILIATES ACTING AS INVESTORS FOR THEIR OWN ACCOUNTS. THE GLOBAL CO-ORDINATOR DOES NOT INTEND TO DISCLOSE THE EXTENT OF ANY SUCH INVESTMENT OR TRANSACTIONS OTHERWISE THAN IN ACCORDANCE WITH ANY LEGAL OR REGULATORY OBLIGATIONS TO DO SO.

THIS ANNOUNCEMENT DOES NOT PURPORT TO IDENTIFY OR SUGGEST THE RISKS (DIRECT OR INDIRECT) WHICH MAY BE ASSOCIATED WITH AN INVESTMENT IN THE COMPANY OR ITS SHARES.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE A RECOMMENDATION CONCERNING THE PLACING. THE PRICE AND VALUE OF SECURITIES AND ANY INCOME FROM THEM CAN GO DOWN AS WELL AS UP. PAST PERFORMANCE IS NOT A GUIDE TO FUTURE PERFORMANCE. ACQUIRING PLACING SHARES TO WHICH THIS ANNOUNCEMENT RELATES MAY EXPOSE AN INVESTOR TO A SIGNIFICANT RISK OF LOSING ALL OF THE AMOUNT INVESTED. POTENTIAL INVESTORS SHOULD CONSULT A PROFESSIONAL ADVISOR AS TO THE SUITABILITY OF THE PLACING FOR THE ENTITY OR PERSON CONCERNED. THIS ANNOUNCEMENT DOES NOT REPRESENT THE ANNOUNCEMENT OF A DEFINITIVE AGREEMENT TO PROCEED WITH THE PLACING AND, ACCORDINGLY, THERE CAN BE NO CERTAINTY THAT THE PLACING WILL PROCEED. AI PRIME RESERVES THE RIGHT NOT TO PROCEED WITH THE PLACING OR TO VARY THE TERMS OF THE PLACING IN ANY WAY.

BARCLAYS BANK PLC IS AUTHORISED IN THE UNITED KINGDOM BY THE PRUDENTIAL REGULATION AUTHORITY AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY AND THE PRUDENTIAL REGULATION AUTHORITY. THE GLOBAL CO-ORDINATOR IS ACTING FOR AI PRIME AND NO-ONE ELSE IN CONNECTION WITH THE PLACING. NEITHER THE GLOBAL CO-ORDINATOR NOR ANY OF ITS AFFILIATES, NOR THEIR RESPECTIVE PARTNERS, DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS WILL REGARD ANY OTHER PERSON AS A CLIENT IN CONNECTION WITH THE PLACING AND THEY WILL NOT BE RESPONSIBLE TO ANYONE OTHER THAN AI PRIME FOR PROVIDING THE PROTECTIONS AFFORDED TO THEIR RESPECTIVE CLIENTS OR FOR PROVIDING ADVICE IN CONNECTION WITH THE PLACING DESCRIBED IN THIS ANNOUNCEMENT OR FOR ANY OTHER MATTERS REFERRED TO HEREIN.

CERTAIN FIGURES CONTAINED IN THIS ANNOUNCEMENT HAVE BEEN SUBJECT TO ROUNDING ADJUSTMENTS. ACCORDINGLY, IN CERTAIN INSTANCES, THE SUM OR PERCENTAGE CHANGE OF THE NUMBERS CONTAINED IN THIS ANNOUNCEMENT MAY NOT CONFORM EXACTLY WITH THE TOTAL FIGURE GIVEN.

THIS ANNOUNCEMENT INCLUDES STATEMENTS THAT ARE, OR MAY BE DEEMED TO BE, FORWARD-LOOKING STATEMENTS. THESE FORWARD-LOOKING STATEMENTS MAY BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY, INCLUDING THE TERMS “INTENDS”, “EXPECTS”, “WILL”, OR “MAY”, OR, IN EACH CASE, THEIR NEGATIVE OR OTHER VARIATIONS OR COMPARABLE TERMINOLOGY, OR BY DISCUSSIONS OF STRATEGY, PLANS, OBJECTIVES, GOALS, FUTURE EVENTS OR INTENTIONS. THESE FORWARD-LOOKING STATEMENTS INCLUDE ALL MATTERS THAT ARE NOT HISTORICAL FACTS AND INCLUDE STATEMENTS REGARDING INTENTIONS, BELIEFS OR CURRENT EXPECTATIONS. NO ASSURANCES CAN BE GIVEN THAT THE FORWARD-LOOKING STATEMENTS IN THIS ANNOUNCEMENT WILL BE REALISED. AS A RESULT, NO UNDUE RELIANCE SHOULD BE PLACED ON THESE FORWARD-LOOKING STATEMENTS AS A PREDICTION OF ACTUAL EVENTS OR OTHERWISE.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

The MIL Network –

July 1, 2025
MIL-OSI Africa: Advisor to Prime Minister and Official Spokesperson for Ministry of Foreign Affairs: Qatar in Contact with All Parties to Reach a Broader Nuclear Agreement with Iran

Source: Government of Qatar

Doha, June 30 (QNA) – Advisor to the Prime Minister and Official Spokesperson for the Ministry of Foreign Affairs Dr. Majed bin Mohammed Al Ansari has affirmed that the State of Qatar is deeply involved in efforts to reach an agreement on the Iranian nuclear issue, especially after the ceasefire between Israel and Iran and the end of the escalation witnessed in the region.

He said that there are currently no talks on a ceasefire in Gaza.

During the weekly media briefing organized by the Ministry of Foreign Affairs, Al Ansari said Qatari interest, as well as that of various countries around the world, is now directed towards reaching a broader, more comprehensive nuclear agreement between Iran and the United States of America, noting that Qatari contacts are ongoing daily between various parties in this regard.

He added there are no talks about a ceasefire in the Gaza Strip, but the State of Qatar, along with its mediation partners, the Arab Republic of Egypt and the United States, continue to communicate with various parties to reach a formula that will enable us to return to negotiations.

The Advisor to the Prime Minister and Spokesperson for the Ministry of Foreign Affairs condemned the humanitarian catastrophe in Gaza in light of the current Israeli escalation, saying, it has become very difficult for us, as an international community, to accept that this crisis continues for nearly two years, and that these human losses remain insignificant figures in the media.

He said that more than 500 martyrs have fallen so far as a result of standing in lines waiting for aid, noting that there are very disturbing reports published in the Israeli press, speaking of orders issued to Israeli soldiers to open fire against unarmed individuals who were standing regularly waiting to receive humanitarian aid.

He emphasized that this catastrophe has exceeded all possible limits from a humanitarian standpoint, emphasizing that it is unacceptable to continue linking the humanitarian aspect with the security aspect in this context.

He noted that the state is continuing its contacts with various parties with the aim of reaching a new mechanism, which is difficult to comment on at this time.

He stressed that this process is constructive and ongoing, and is subject to formulas that are being developed based on developments on the ground.

In a related context, Al Ansari explained that the State of Qatar sees positive American positions to push for a return to negotiations on Gaza, saying in this regard the US administration has brought us to the longest ceasefire during this war.

We also saw how the US administration led to a ceasefire between Iran and Israel and obligated both parties to abide by it.

Today, we see renewed, positive language coming from the United States to reach an agreement, and therefore we are very optimistic about this language.

We believe that there are very clear American intentions regarding a final resolution to this crisis.

However, there are complications on the ground that are evident to everyone, he added.

He emphasized that the State of Qatar will continue to pressure, through its partners and relations in the international community, to separate negotiations from the entry of humanitarian aid, saying there is nothing preventing the entry of aid into the Gaza Strip except Israeli intransigence, and therefore the Israeli position today cannot be accepted.

Advisor to the Prime Minister and Official Spokesperson for the Ministry of Foreign Affairs Dr. Majed bin Mohammed Al Ansari pointed out that the entire world sends humanitarian aid, but it does not enter the Gaza Strip.

Qatar’s humanitarian aid, like international aid, is only a few meters away from reaching those in need, as it is in the Egyptian city of El Arish.

He called on the international community to compel Israel to open all crossings and allow aid into the Strip without any restrictions or conditions.

Al Ansari said the system of international agencies and institutions is present on the borders of the Gaza Strip, and it was clearly functioning and did not lead to the humanitarian tragedy we see today in the delivery of aid.

This system can achieve its goals and is ready to be implemented immediately once the Israeli side allows it, he said.

He reiterated that there is no specific timeframe for announcing a ceasefire in the Gaza Strip, especially since the ongoing discussions have not yet got to the level they reached previously, and the accumulated language does not indicate the possibility of reaching an agreement now.

Al Ansari noted that the Iranian president offered an official apology to the State of Qatar, its leadership and people, during a phone call he held with HH the Amir Sheikh Tamim bin Hamad Al-Thani, noting that the main guarantee against a return to such escalation lies in ensuring that there is no escalation in the region.

He further said that the State of Qatar is working directly towards finding a way to reach a ceasefire in the Gaza Strip and then reach a general agreement in the region that ensures the absence of any threat from any party there.

He said that the irresponsible Israeli position of continuing the escalation in this manner will result in unforeseen challenges, and the region today is not far from escalation, even if a ceasefire is the main theme at this time.

He called on all parties in the region to engage in positive action to ensure the continuation of the ceasefire and de-escalation.

The Advisor to the Prime Minister and Official Spokesperson for the Ministry of Foreign Affairs expressed the State of Qatar’s appreciation for the 49th Extraordinary Meeting of the Ministerial Council of the Gulf Cooperation Council (GCC), held in Doha one day after the Iranian attack on Al-Udeid Air Base, which clearly affirmed the condemnation of this attack, GCC solidarity in this regard, and the GCC position in support of diplomatic efforts.

He noted that the statement issued at the meeting welcomed the ceasefire between Iran and Israel and the Qatari role in this regard, adding that there is a clear regional position on the need to de-escalate the situation in the region.

Al Ansari also addressed the calls received by HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani from Their Excellencies the Prime Ministers and Foreign Ministers of several brotherly and friendly countries, during which they expressed their great solidarity with the State of Qatar and their condemnation of the Iranian attack on Al-Udeid Air Base.

He expressed Qatar’s high appreciation for this great international solidarity with Qatar.

Dr. Majed bin Mohammed Al Ansari noted that HE the Prime Minister and Minister of Foreign Affairs will be in the Republic of Ireland tomorrow, Tuesday, to receive the Tipperary Peace Award, a prestigious global honor in this field.

The award is presented annually in recognition of humanitarian efforts and activities aimed at building peace globally.

He explained that this award, presented by the Tipperary Peace Convention, aims to honor individuals and organizations that have made outstanding contributions to the fields of peace, justice, and human rights around the world.

He highlighted that this recognition reflects the significant role played by HE the Prime Minister and Minister of Foreign Affairs in various mediations, and also underscores the important position enjoyed by the State of Qatar in global peacemaking.

Al Ansari noted that this award represents an opportunity to affirm Qatar’s commitment to its role not only as a peacemaker, but also as an engineer of global peace, saying that this is what Qatar is currently doing, whether through contacts regarding the Iranian nuclear issue, the ceasefire in the Gaza Strip, or between the Congo and Rwanda, or various regional and international issues.

He pointed out that Qatar participated in the World Humanitarian Forum, held in London on June 26, where HE Minister of State for International Cooperation Maryam bint Ali bin Nasser Al Misnad represented Qatar at the meeting.

In her speech during the meeting, Her Excellency emphasized the importance of adhering to a principled and consistent approach to humanitarian work, especially in light of escalating global crises and challenges.

Her Excellency also stressed that adherence to international humanitarian law and relevant agreements is not an option, but rather a legal and moral obligation to ensure the protection of civilians and the preservation of human dignity. She affirmed that the State of Qatar is committed to making every effective effort to promote dialogue and strive to achieve stability.

Al Ansari noted that on the sidelines of the meeting, HE the Minister of State for International Cooperation met with a number of figures, including CEO of the World Humanitarian Forum, HE Lord of Wimbledon, former Minister of State for the Middle East, South Asia and United Nations at the UK Foreign, Commonwealth and Development Office Lord Tariq Ahmad, and member of the Advisory Board of the World Humanitarian Forum Richard Hawkes.

He noted that the State of Qatar participated in the signing ceremony of the peace agreement between the Republic of Rwanda and the Democratic Republic of the Congo, which took place on June 27 and 28 in Washington, D.C., facilitated by the United States.

HE Minister of State at the Ministry of Foreign Affairs, Dr. Mohammed bin Abdulaziz bin Saleh Al Khulaifi represented the State of Qatar at the signing ceremony.

His Excellency expressed Qatar’s welcome of the conclusion of this agreement and commended the sincere will and genuine commitment shown by both parties to peaceful and diplomatic solutions.

He added that His Excellency also expressed Qatar’s pride in contributing positively to facilitating the achievement of this agreement through hosting several negotiation sessions between the two parties, as a result of Doha’s hosting of the trilateral meeting between HH the Amir Sheikh Tamim bin Hamad Al-Thani; HE President of the Republic of Rwanda, Paul Kagame and HE President of the Democratic Republic of the Congo, Felix Tshisekedi in March 2025, which constituted a significant milestone for direct dialogue and confidence-building between the two sides.

His Excellency also commended the constructive role played by the United States of America in completing these efforts and reaching the Agreement.

Al Ansari added that HE Minister of State at the Ministry of Foreign Affairs met in Washington, with HE Undersecretary of State for Political Affairs of the United States of America, Allison Hooker, and with HE Chairman of the US Senate Foreign Relations Committee, Senator Jim Risch, along with a number of Senators.

MIL OSI Africa –

July 1, 2025
MIL-OSI Europe: ECB commits to distributed ledger technology settlement plans with dual-track strategy
Source: European Central Bank

1 July 2025
- Short-term track (Pontes) to pilot link between distributed ledger technology platforms and TARGET Services by end-2026
- Long-term track (Appia) to shape future-ready, innovative, integrated financial ecosystems
- Initiatives will deliver on Eurosystem’s continuing commitment to safe, efficient settlement in central bank money
The ECB’s Governing Council has approved a plan that will enable settling distributed ledger technology (DLT) transactions using central bank money. The initiative follows a two-track approach: the first track “Pontes” provides a short-term offering to the market – including a pilot phase – and the second track “Appia” focuses on a potential long-term solution. The decision is in line with the Eurosystem’s commitment to supporting innovation without compromising on safety and efficiency in financial market infrastructures.

Pontes will offer a Eurosystem DLT-based solution, linking DLT platforms and TARGET Services to settle transactions in central bank money. The Eurosystem plans to launch a pilot for Pontes by the end of the third quarter of 2026. It will offer a single Eurosystem solution which incorporates features used in the Eurosystem’s exploratory work on DLT in 2024. During the pilot, the Eurosystem will also explore the feasibility of further enhancements in line with the TARGET Services operational, legal and technical standards. Between now and the launch of the Pontes pilot, the Eurosystem will consider requests for further DLT-related trials and experiments.

Appia focuses on a long-term approach for an innovative and integrated ecosystem in Europe that also facilitates safe and efficient operations at the global level. The Eurosystem will actively continue to analyse DLT-based solutions and collaborate with public and private stakeholders.

To ensure continuous dialogue with the market, the Eurosystem will establish dedicated market contact groups for both Pontes and Appia. A call for expressions of interest in participating in the Pontes contact group will be published soon.

Pontes and Appia will build on the Eurosystem’s exploratory work on new technologies for wholesale central bank money settlement, which was conducted between May and November 2024. In this exploratory work, 64 participants conducted over 50 trials and experiments. A dedicated report outlining the results of the exploratory work has been published today.

For media queries, please contact Alessandro Speciale, tel.: +49 172 1670791.
MIL OSI Europe News –
July 1, 2025
MIL-OSI Russia: China imposes sanctions on former Philippine Senator Francis Tolentino

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

BEIJING, July 1 (Xinhua) — China has decided to impose sanctions on former Philippine Senator Francis Tolentino for his despicable behavior on China-related issues and ban him from entering the Chinese mainland, Hong Kong Special Administrative Region and Macao Special Administrative Region, a Foreign Ministry spokesperson said Tuesday.

For some time now, some anti-China politicians in the Philippines, guided by selfish motives, have made malicious remarks and actions on issues directly related to China, thereby causing harm to the interests of the PRC and China-Philippine relations, the official said.

The Foreign Ministry stressed that the Chinese government is unwavering in its determination to protect national sovereignty, security and development interests. -0-

MIL OSI Russia News –

July 1, 2025
MIL-OSI Russia: China National Space Administration releases images of Earth and Moon taken by Tianwen-2 probe

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

BEIJING, July 1 (Xinhua) — The China National Space Administration (CNSA) on Tuesday released images of the Earth and the Moon taken in orbit by the Tianwen-2 probe.

The narrow-field navigation sensor on Tianwen-2 recently captured images of our planet and its natural satellite, showing good performance, the CNSA said.

The released images include a photograph of Earth taken by Tianwen-2 from a distance of approximately 590,000 km from the planet, as well as a photograph of the Moon taken at the same distance. After transmission to Earth, these images were processed by scientific personnel.

At the moment, Tianwen-2 has been in orbit for more than 33 days. It is separated from the Earth by more than 12 million km. All the probe systems are operating normally, the CNSA reported.

The 10-year Tianwen-2 mission has several goals: collecting samples from the near-Earth asteroid 2016HO3 and studying the main-belt comet 311P, which is farther from Earth than Mars. -0-

MIL OSI Russia News –

July 1, 2025
MIL-OSI Russia: Shanghai Stock Exchange and AIX Sign MoU on Cooperation

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

BEIJING, July 1 (Xinhua) — The Shanghai Stock Exchange and AIX (Astana International Exchange) on Monday signed a memorandum of understanding on cooperation, aiming to further strengthen bilateral cooperation and exchanges between the two capital markets.

As the Zhongguo Zhengquanbao newspaper writes, citing a representative of the Shanghai Stock Exchange, in 2017 the exchange agreed on cooperation with the Kazakhstan International Financial Center Astana and joined the AIX share. By now, AIX has formed a full-fledged infrastructure and a system of market rules, and has also achieved certain results in attracting issuers and investors.

The signing of the memorandum will promote exchanges and cooperation between the two sides in the fields of information exchange, marketing and product development. It will also lay a solid foundation for cooperation in the capital markets of both countries to support the joint construction of the Belt and Road.

Under the guidance of the China Securities Regulatory Commission, the Shanghai Stock Exchange will continue to deepen exchanges and cooperation with AIX and the capital market of Kazakhstan. At the same time, it will continuously expand the scope of external communication, steadily promote diversified cooperation with overseas exchanges, so as to promote high-quality opening of the capital market. -0-

MIL OSI Russia News –

July 1, 2025
MIL-OSI Russia: In the first half of 2025, the total box office revenue of Chinese films exceeded 29 billion yuan.

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

BEIJING, July 1 (Xinhua) — China’s film market will continue to grow at a rapid pace in 2025. In the first half of the year, China’s box office revenue was 29.23 billion yuan (about 4.09 billion U.S. dollars), up 22.91 percent year on year, according to data released Tuesday by the National Film Administration. -0-

MIL OSI Russia News –

July 1, 2025
MIL-OSI Russia: UN Security Council Extends Mandate of UN Peacekeeping Forces in Golan Heights

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

UNITED NATIONS, July 1 (Xinhua) — The United Nations Security Council on Monday unanimously adopted a resolution extending the mandate of the United Nations Disengagement Observer Force (UNDOF) in the Golan Heights for six months, until December 31, 2025.

Resolution 2782 emphasizes the obligation of both Israel and Syria to fully comply with the terms of the 1974 ceasefire and calls on them to exercise maximum restraint and prevent any violations of the ceasefire and the area of separation, or buffer zone.

The document requires the Secretary-General of the world organization to ensure that UNDOF has all the necessary capabilities and resources to carry out its mandate safely and properly.

UNDOF was established in May 1974 following the agreed disengagement of Israeli and Syrian forces on the Golan Heights, which ended the 1973 Yom Kippur War. It is tasked with maintaining the ceasefire between Israel and Syria. –0–

MIL OSI Russia News –

July 1, 2025
MIL-OSI Russia: Spanish PM calls for inclusive multilateralism at Financing for Development conference

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

SEVILLE, Spain, July 1 (Xinhua) — Spanish Prime Minister Pedro Sanchez on Monday called for inclusive and strong multilateralism at the opening of the fourth International Conference on Financing for Development here in southern Spain.

P. Sanchez, who is also the conference chair, said that in the current global context, inclusive and strong multilateralism is especially needed and the UN should be at its core.

He called on delegates to translate slogans into action, resolve differences through unity and build trust through dialogue.

Noting that two-thirds of the UN Sustainable Development Goals were behind schedule, UN Secretary-General António Guterres said at the opening of the session that the conference would take action in three areas – accelerating the flow of funds, reforming the international debt system and increasing the participation of developing countries in the institutions of the international financial system.

The conference, dedicated to global development finance, will run until Thursday and will bring together representatives from governments, international organizations, financial institutions, businesses and other entities. –0–

MIL OSI Russia News –

July 1, 2025
MIL-OSI Russia: G7 calls for resumption of Iran nuclear talks

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

OTTAWA, July 1 (Xinhua) — The Group of Seven (G7) foreign ministers on Monday called for a resumption of talks to reach a comprehensive, verifiable and lasting deal on Iran’s nuclear program.

In a joint statement on Iran and the Middle East issued by Global Affairs Canada, the G7 foreign ministers called on Iran to urgently resume full cooperation with the International Atomic Energy Agency (IAEA) in accordance with its safeguards obligations and to provide the IAEA with verifiable information on all nuclear materials in Iran, including by providing access to IAEA inspectors.

“We underscore the central importance of the Nuclear Non-Proliferation Treaty as the cornerstone of the global nuclear non-proliferation regime. It is critical that Iran remain a party to and fully implement its obligations under the Treaty,” the statement said.

The foreign ministers of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, as well as the European Union’s high representative, met in The Hague on June 25 to discuss recent developments in the Middle East. –0–

MIL OSI Russia News –

July 1, 2025
MIL-OSI Russia: Turkish FM welcomes cooperation with UK, calls for expansion of bilateral trade

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

ANKARA, July 1 (Xinhua) — Turkish Foreign Minister Hakan Fidan here on Monday hailed “intensive cooperation” with Britain and called for further expansion of bilateral trade.

During a joint press conference with British Foreign Secretary David Lammy, he spoke about interstate cooperation in the areas of economics, defense and technology.

The minister praised Britain’s supportive stance on issues such as the conflicts in Gaza, Syria, other parts of the Middle East and Ukraine, and welcomed London’s recent decision to lift some sanctions on Syria.

H. Fidan stressed that ensuring a ceasefire, especially between Iran and Israel, as well as in the Gaza Strip, remains one of Ankara’s top strategic priorities.

The annual trade turnover between Turkey and Great Britain has reached almost 30 billion US dollars, and both sides are striving to further expand economic ties, the minister noted.

Mr Lammy highlighted the strength of Turkish-British relations, pointing to a potential free trade agreement that could bring mutual economic benefits of up to £28 billion (US$38.36 billion).

“We look forward to negotiations on the Free Trade Agreement in the coming weeks and months,” he said.

The Foreign Minister also praised Turkey’s efforts to promote peace in the Russian-Ukrainian conflict and stressed that both countries are working to ease the humanitarian crisis in Gaza and implement the principle of “two states for two peoples” for the Palestinians. –0–

MIL OSI Russia News –

July 1, 2025
MIL-OSI: INVL Asset Management raises EUR 35.43 million for investments in funds managed by 17Capital

Source: GlobeNewswire (MIL-OSI)

INVL Asset Management, the leading alternative asset manager in the Baltics, raised EUR 35.43 million for investments in funds managed by 17Capital which provides financing to the world’s largest private equity managers, investors, and funds. This success in attracting investor funds further solidifies the Invalda INVL group’s leading position in the Baltic private debt market.

“The private debt market is experiencing rapid growth globally, and the Baltic region is no exception. Private debt is emerging as an important alternative to traditional financing, while also serving as a valuable tool for portfolio diversification. We appreciate the trust our investors place in us and their decision to leverage the access we provide to globally diversified private debt funds managed by an experienced team. To date, our group has attracted over EUR 75 million to this asset class, reinforcing our leading position in the,” says Justas Riauba, Invalda INVL’s Group Chief Investment Officer.

A private debt fund INVL Bridge Finance, which had more than EUR 40 million of assets under management at the end of May this year, is also a part of the Invalda INVL group.

INVL Partner Strategic Lending funds were distributed to the Baltic investors by the financial brokerage firm INVL Financial Advisors, which operates in Lithuania under the INVL Family Office brand.

“Retail and institutional investors in the Baltic countries are showing strong and growing interest in private debt solutions as an important component of a diversified portfolio. The successful distribution of these funds through the INVL Family Office reflects increasing confidence in structured, institutional-grade products and highlights the growing maturity of investors when it comes to selecting alternative investment solutions,” says Asta Jovaišienė, who heads the INVL Family Office.

Launched this year, the INVL Partner Strategic Lending funds invest in funds managed by 17Capital, a private credit manager active in North America and Europe. The strategy of that world-class specialised manager’s funds is to lend to the world’s best known private equity funds, managers and management companies against the net asset value (NAV) of their private equity portfolios or the management companies’ investments, as well as to the participants of such funds.

The minimum investment in the funds for informed investors is EUR 125,000 or, if investments are made in US dollars, USD 145,000. The INVL Partner Strategic Lending funds target an expected net average annual investment return of more than 10%. The anticipated duration of the funds is 7 years.

Founded in 2008, 17Capital operates primarily from London and New York. The company has completed more than 100 investments and more than 50 exits and since its inception has raised more than USD 13 billion.

About INVL Asset Management

INVL Asset Management is the leading Baltic alternative asset manager. We strive to deliver superior risk-adjusted returns to our investors while positively impacting our region’s economic development.

We are part of the Invalda INVL group with a track record spanning over 30 years. Our group manages or has under supervision more than EUR 1.9 billion of assets across multiple asset classes including private equity, forests and agricultural land, renewable energy, real estate as well as private debt. Our scope of activities also includes family office services in Lithuania, Latvia and Estonia, management of pension funds in Latvia, and investments in global third-party funds.

The person for additional information:
Justas Riauba, Invalda INVL Group Chief Investment Officer
Justas.Riauba@invl.com

The MIL Network –

July 1, 2025
MIL-OSI: INVL Asset Management raises EUR 35.43 million for investments in funds managed by 17Capital

Source: GlobeNewswire (MIL-OSI)

INVL Asset Management, the leading alternative asset manager in the Baltics, raised EUR 35.43 million for investments in funds managed by 17Capital which provides financing to the world’s largest private equity managers, investors, and funds. This success in attracting investor funds further solidifies the Invalda INVL group’s leading position in the Baltic private debt market.

“The private debt market is experiencing rapid growth globally, and the Baltic region is no exception. Private debt is emerging as an important alternative to traditional financing, while also serving as a valuable tool for portfolio diversification. We appreciate the trust our investors place in us and their decision to leverage the access we provide to globally diversified private debt funds managed by an experienced team. To date, our group has attracted over EUR 75 million to this asset class, reinforcing our leading position in the,” says Justas Riauba, Invalda INVL’s Group Chief Investment Officer.

A private debt fund INVL Bridge Finance, which had more than EUR 40 million of assets under management at the end of May this year, is also a part of the Invalda INVL group.

INVL Partner Strategic Lending funds were distributed to the Baltic investors by the financial brokerage firm INVL Financial Advisors, which operates in Lithuania under the INVL Family Office brand.

“Retail and institutional investors in the Baltic countries are showing strong and growing interest in private debt solutions as an important component of a diversified portfolio. The successful distribution of these funds through the INVL Family Office reflects increasing confidence in structured, institutional-grade products and highlights the growing maturity of investors when it comes to selecting alternative investment solutions,” says Asta Jovaišienė, who heads the INVL Family Office.

Launched this year, the INVL Partner Strategic Lending funds invest in funds managed by 17Capital, a private credit manager active in North America and Europe. The strategy of that world-class specialised manager’s funds is to lend to the world’s best known private equity funds, managers and management companies against the net asset value (NAV) of their private equity portfolios or the management companies’ investments, as well as to the participants of such funds.

The minimum investment in the funds for informed investors is EUR 125,000 or, if investments are made in US dollars, USD 145,000. The INVL Partner Strategic Lending funds target an expected net average annual investment return of more than 10%. The anticipated duration of the funds is 7 years.

Founded in 2008, 17Capital operates primarily from London and New York. The company has completed more than 100 investments and more than 50 exits and since its inception has raised more than USD 13 billion.

About INVL Asset Management

INVL Asset Management is the leading Baltic alternative asset manager. We strive to deliver superior risk-adjusted returns to our investors while positively impacting our region’s economic development.

We are part of the Invalda INVL group with a track record spanning over 30 years. Our group manages or has under supervision more than EUR 1.9 billion of assets across multiple asset classes including private equity, forests and agricultural land, renewable energy, real estate as well as private debt. Our scope of activities also includes family office services in Lithuania, Latvia and Estonia, management of pension funds in Latvia, and investments in global third-party funds.

The person for additional information:
Justas Riauba, Invalda INVL Group Chief Investment Officer
Justas.Riauba@invl.com

The MIL Network –

July 1, 2025
MIL-OSI: Over half of sports fans are turning to AI or gen AI for more personalized content
Source: GlobeNewswire (MIL-OSI)

Press contact:
Elsa Estager Bergerou
Tel: +33 6 59 62 55 13
Email: elsa.estager-bergerou@capgemini.com

Over half of sports fans are turning to AI or gen AI for more personalized content
- AI has overtaken traditional search engines as the main source for sports information, with 67% of fans wanting all sports data aggregated in one place.
- Digital insights are filling gaps in the live sports experience, with nearly 70% of fans seeking stats related to team, players and playing conditions primarily pre-match and during breaks.
- Spectators want balance between tech innovation and authenticity, with almost three out of five fans worrying that too much technology could impact the thrill of live sport.
Paris, July 1, 2025 – The Capgemini Research Institute today released its latest report, “Beyond the game: The new era of AI-powered sports engagement”, revealing how AI and generative AI (gen AI) are reshaping the global fan experience. As AI-powered tools become the primary gateway for sports content and data, fans still seek the thrill of authentic, in-person moments, therefore highlighting the need to strike a balance between the digital and physical worlds of sport.

AI and gen AI power the next era of fan engagement
AI is redefining how fans interact with sports. Over half (54%) of them now use AI or gen AI tools as their main source of information with 59% trusting content generated by these technologies. From personalized match summaries to real-time highlights reels, fans increasingly expect AI and gen AI to aggregate all sports-related content – 67% want a single, streamlined platform where they can discover information aggregated from websites, search engines and social media.

However, personalization and interactivity are key to ensuring a genuine and authentic fan experience. While the report finds fans are returning to stadiums since the pandemic, with 37% already having attended live matches this year, AI is transforming how fans engage with sports overall. The technology is delivering tailored updates that enhance their experience of the game, with stats and facts about their favorite teams, fixtures, and players.

Indeed, 64% of fans want AI to provide updates customized to their preferences, a similar number want to compete against well-known players in a virtual space during live games, and 58% would like to replay matches using ‘what-if’ scenarios. Just over a quarter (27%) are even willing to pay a premium for these AI-driven, interactive experiences. For instance, Tour de France fans can now play and follow their Fantasy team in real time, vote and elect the most combative rider of the day or even experience the race from inside an official fans car.

“The true power of AI in sports, and especially gen AI, lies in its ability to transform how fans connect with the game, with athletes, and with each other,” explained Pascal Brier, Chief Innovation Officer at Capgemini and Member of the Group Executive Committee. “As technology evolves, unlocking new ways for fans to curate their own unique experience, will be a blend of real-time data with immersive, interactive opportunities. The challenge is to ensure that these innovations deepen the emotional connections that make sport so powerful for passionate supporters, while preserving the authenticity and integrity that defines the spirit of the game.”

Balancing innovation with responsibility and the thrill of live sports
Sports fans today are hungry for data but the report shows their digital engagement peaks before matches and during breaks, rather than during the live play itself. Nearly 70% of fans want access to player metrics and live match data, using these insights to enrich their understanding when the action pauses. By meeting fans’ appetite for insights at these key moments, data enriches the overall viewing experience while keeping the thrill of live sports intact.

While digital innovation is widely embraced, nearly 60% of sports fans are concerned that too much technology could dampen the excitement of attending events, and over half fear it could diminish their overall enjoyment of the game or match. This highlights the importance of finding the right balance – leveraging technology to elevate the fan experience while preserving what makes live sports so uniquely compelling.

The report finds that there is a lack of awareness about data privacy aspects of AI-powered sports viewing tools.
For example, whereas about half of Gen Y and Gen Z fans are aware of the various kinds of data collected and explicitly consent to its storage, this is true for only 38% and 36% of baby boomers, respectively.

There are also concerns about misinformation, as two-thirds of fans admit being worried that the spread of unverified content on AI or gen AI platforms could increase the risk of athletes being targeted or harassed by disgruntled supporters. What’s more, 57% of fans are concerned about the generation of false content resulting in the spread of misinformation about players or sports teams.

Stadiums invest in tech to meet rising fan expectations
The report finds that stadium operators are investing in apps and smart technologies to create smoother, more immersive experiences for digital-native audiences. Over half of attendees say ticketing, scheduling, and real-time apps enhance their stadium experience, while facial recognition entry and digital navigation are also valued.

Download the full report here.

Report methodology
The Capgemini Research Institute surveyed f 12,017 sports fans across 11 countries, in March and April 2025: Australia, Brazil, Canada, France, Germany, Italy, Japan, Spain, Sweden, the UK, and the US. The research explored fan behaviors, attitudes, and expectations around AI, gen AI, and digital innovations in sports.

About Capgemini
Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion.

Get The Future You Want | www.capgemini.com

About the Capgemini Research Institute
The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom and the United States. It was ranked #1 in the world for the quality of its research by independent analysts for six consecutive times – an industry first.

Visit us at https://www.capgemini.com/researchinstitute/

Attachment
- 01_07_Tech in sports 2025 news alert_EN
The MIL Network –
July 1, 2025
MIL-OSI: BNP PARIBAS CARDIF COMPLETES THE ACQUISITION OF AXA INVESTMENT MANAGERS
Source: GlobeNewswire (MIL-OSI)

BNP PARIBAS CARDIF COMPLETES THE ACQUISITION OF
AXA INVESTMENT MANAGERS

PRESS RELEASE

Paris, 01 July 2025,

BNP Paribas Cardif has finalised the acquisition of AXA Investment Managers (AXA IM) and signed a long-term partnership with the AXA Group to manage a large part of its assets.

This operation, announced on 1^st August 2024, will enable the BNP Paribas Group to create a leading European asset management platform with over EUR 1.5 trillion in assets under management entrusted by its clients. It allows the Group to become the European leader in long-term savings management for insurers and pension funds with around EUR 850 billion, with the ambition to become the European leader in fund collection for private asset investments and positioning itself among the main providers of ETFs in Europe. This operation is also part of the Group’s core mission to support the economy by mobilising savings to finance future-oriented projects in the best interests of its clients.

By combining the expertise of AXA IM, BNP Paribas Asset Management, and BNP Paribas REIM, this new platform will have a wide range of traditional and alternative assets, an expanded global distribution network, enhanced innovation capabilities, and a more comprehensive offering in responsible investment. It will benefit from AXA IM Alts’ market position and expertise in private assets, which are key drivers of future growth for institutional and individual clients, as well as AXA IM’s know-how in long-term asset management for insurance and retirement. In this context, BNP Paribas Cardif will leverage the capabilities of this platform for the management of a large part of its assets, notably its general funds.

The formation of this new platform marks a major milestone in the development and growth journey of the IPS division. It will fully benefit from BNP Paribas’ integrated model, in close collaboration with the CPBS and CIB businesses, particularly within the framework of the “originate to distribute” approach.

“This acquisition is an important moment for the entire BNP Paribas Group. We are delighted to welcome the AXA IM teams, who will find within the BNP Paribas Group a strong culture of customer service as well as ambitious growth and innovation prospects. These are teams with recognised and complementary expertise that will build together a European industrial project to better serve our clients. I have every confidence in the ability of the management teams of our asset management activities to grow the business and create value for our clients and employees,” said Jean-Laurent Bonnafé, Director and Chief Executive Officer of BNP Paribas.

Joint working groups with AXA IM teams are already in place to reflect on and develop a common roadmap, particularly with regard to offerings and services. This roadmap will be submitted to the appropriate employee representative bodies.

The project to merge the legal entities of AXA IM, BNP Paribas AM and BNP Paribas REIM, which would create the new platform held by BNP Paribas Cardif, is currently the subject of consultation with employee representative bodies.

Sandro Pierri, CEO of BNP Paribas AM, will lead the BNP Paribas Group’s asset management activities and Marco Morelli, the current Executive Chairman of AXA IM, will chair the BNP Paribas Group’s asset management activities.

From a financial perspective:
- The Group’s revenue growth by 2026, including the impact of the transaction, will be greater than +5% (CAGR 24-26), with an average annual jaws effect of +1.5 pts.
- Return on Invested Capital (ROIC) will be more than 14% in year three (2028) and more than 20% in year four (2029).
- From a prudential perspective, the impact of the operation on the Group’s CET1 ratio is estimated at approximately -35bp as of the 3rd quarter 2025 results, discussions with supervisory authorities are still on going.
An update on the progress of the operation will be provided upon the release of the third-quarter 2025 results ahead of a Deep Dive, that will take place during the first quarter 2026, focused on the Group’s trajectory including this operation.

About BNP Paribas
Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

BNP Paribas Press Contacts
Hacina Habchi: hacina.habchi@bnpparibas.com +33 7 61 97 65 20
Sandrine Romano: sandrine.romano@bnpparibas.com +33 6 71 18 13 05

Attachment
- 01.07.2025_BNP Paribas Cardif completes the acquisition of AXA IM
The MIL Network –
July 1, 2025
MIL-OSI: BNP PARIBAS CARDIF COMPLETES THE ACQUISITION OF AXA INVESTMENT MANAGERS
Source: GlobeNewswire (MIL-OSI)

BNP PARIBAS CARDIF COMPLETES THE ACQUISITION OF
AXA INVESTMENT MANAGERS

PRESS RELEASE

Paris, 01 July 2025,

BNP Paribas Cardif has finalised the acquisition of AXA Investment Managers (AXA IM) and signed a long-term partnership with the AXA Group to manage a large part of its assets.

This operation, announced on 1^st August 2024, will enable the BNP Paribas Group to create a leading European asset management platform with over EUR 1.5 trillion in assets under management entrusted by its clients. It allows the Group to become the European leader in long-term savings management for insurers and pension funds with around EUR 850 billion, with the ambition to become the European leader in fund collection for private asset investments and positioning itself among the main providers of ETFs in Europe. This operation is also part of the Group’s core mission to support the economy by mobilising savings to finance future-oriented projects in the best interests of its clients.

By combining the expertise of AXA IM, BNP Paribas Asset Management, and BNP Paribas REIM, this new platform will have a wide range of traditional and alternative assets, an expanded global distribution network, enhanced innovation capabilities, and a more comprehensive offering in responsible investment. It will benefit from AXA IM Alts’ market position and expertise in private assets, which are key drivers of future growth for institutional and individual clients, as well as AXA IM’s know-how in long-term asset management for insurance and retirement. In this context, BNP Paribas Cardif will leverage the capabilities of this platform for the management of a large part of its assets, notably its general funds.

The formation of this new platform marks a major milestone in the development and growth journey of the IPS division. It will fully benefit from BNP Paribas’ integrated model, in close collaboration with the CPBS and CIB businesses, particularly within the framework of the “originate to distribute” approach.

“This acquisition is an important moment for the entire BNP Paribas Group. We are delighted to welcome the AXA IM teams, who will find within the BNP Paribas Group a strong culture of customer service as well as ambitious growth and innovation prospects. These are teams with recognised and complementary expertise that will build together a European industrial project to better serve our clients. I have every confidence in the ability of the management teams of our asset management activities to grow the business and create value for our clients and employees,” said Jean-Laurent Bonnafé, Director and Chief Executive Officer of BNP Paribas.

Joint working groups with AXA IM teams are already in place to reflect on and develop a common roadmap, particularly with regard to offerings and services. This roadmap will be submitted to the appropriate employee representative bodies.

The project to merge the legal entities of AXA IM, BNP Paribas AM and BNP Paribas REIM, which would create the new platform held by BNP Paribas Cardif, is currently the subject of consultation with employee representative bodies.

Sandro Pierri, CEO of BNP Paribas AM, will lead the BNP Paribas Group’s asset management activities and Marco Morelli, the current Executive Chairman of AXA IM, will chair the BNP Paribas Group’s asset management activities.

From a financial perspective:
- The Group’s revenue growth by 2026, including the impact of the transaction, will be greater than +5% (CAGR 24-26), with an average annual jaws effect of +1.5 pts.
- Return on Invested Capital (ROIC) will be more than 14% in year three (2028) and more than 20% in year four (2029).
- From a prudential perspective, the impact of the operation on the Group’s CET1 ratio is estimated at approximately -35bp as of the 3rd quarter 2025 results, discussions with supervisory authorities are still on going.
An update on the progress of the operation will be provided upon the release of the third-quarter 2025 results ahead of a Deep Dive, that will take place during the first quarter 2026, focused on the Group’s trajectory including this operation.

About BNP Paribas
Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

BNP Paribas Press Contacts
Hacina Habchi: hacina.habchi@bnpparibas.com +33 7 61 97 65 20
Sandrine Romano: sandrine.romano@bnpparibas.com +33 6 71 18 13 05

Attachment
- 01.07.2025_BNP Paribas Cardif completes the acquisition of AXA IM
The MIL Network –
July 1, 2025

Category: Europe

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